PLI booster: Smartphones now rank 2nd in exports, says Ashwini Vaishnaw

New Delhi, Jan 23 Union Minister for Railways and Electronics and IT, Ashwini Vaishnaw, said on Thursday that smartphones now rank second in India's exports from 14th position just four years ago.

The rise in smartphone exports is result of production-linked incentive (PLI) scheme that focuses on increase in domestic production of electronics goods.

In a social media post on X, Vaishnaw said: "Another big PLI milestone. Smartphones now India's 2nd ranked exports. Climbed from 14th to 2nd position in four years.”

The minister further stated that PLI has driven global competitiveness, skilling and job creation.

“The ecosystem is developing rapidly. The sector stands ready to compete with the best in the world,” added the minister.

India's top five exports now include automotive diesel fuel, smartphones, aviation fuel, diamonds and motor gasoline.

Meanwhile, the Centre disbursed close to Rs 1,600 crore under the production-linked incentive (PLI) scheme in the first half of 2024-25, with the large-scale electronics manufacturing sector getting the biggest chunk of Rs 964 crore.

Electronics goods emerged as the fastest-growing segment in India’s export basket as new manufacturing capacities have come up in the country driven by the success of the PLI scheme.

The electronics exports surged by 35.1 per cent to touch a two-year high of $3.58 billion in December 2024 from $2.65 billion in the same month of the previous year.

Within the electronics sector smartphone exports have recorded a 45 per cent increase in exports as leading players such as Apple and Samsung expand production in the country.

The PLI scheme and quick clearances by the government are proving to be a major success as global giants look beyond alienated China to set up alternative supply chains.

Electronics exports are expected to further accelerate ahead as semiconductor manufacturing capacities are now being set up in the country.

Source: IANS