India, which is the second-largest mobile phone producer in the world, is all set to reach $300 billion in electronics production by 2026, driven by the ‘Make in India’ and the production-linked incentive (PLI) scheme, the Centre said on Wednesday.
In 2014-15, 26 per cent of mobile phones sold in India were locally made, which rose to 99.2 per cent by December 2024
In 2014, India had just two mobile manufacturing units; today, it has over 300. The mobile phone exports surged from Rs 1,566 crore in 2014-15 to Rs 1.2 lakh crore in 2023-24, marking a 77-fold increase.
India's semiconductor ecosystem has gained significant momentum, with five landmark projects, with a total combined investment nearing Rs 1.52 lakh crore, receiving approval.