Responding to a media report, Union Minister of
"@GoI_MeitY is 100 per cent committed to 'Ease of Doing Business' and is totally focused on growing electronics manufacturing to touch $300 billion by 2026," the minister said in a tweet.
Electronics manufacturing in the country is likely to cross Rs 1.28 lakh crore in the next financial year, according to Chandrasekhar.
"The mobile phone production in India had increased from 5.8 crore units valued at about Rs 18,900 crore in 2014-15 to 31 crore units valued at over Rs 2,75,000 crore in the last financial year, as a result of various initiatives of the government, including the 'Phased Manufacturing programme'," Finance Minister
In the period from April-December 2022, mobile phone exports reached nearly $7-8 billion, and is expected to cross $9 billion for the fiscal year.
The government has set a target to achieve $300 billion of electronics manufacturing by 2025-26, out of which $75-100 billion of electronics manufacturing is expected from Uttar Pradesh alone, according to the India Cellular and Electronics Association (ICEA).
SEE ALSO:
Wedding bells ring in 16% rise in February auto sales, 2 wheeler sales yet to hit pre-pandemic levels: FADA
OnePlus confirms launch of its first foldable phone in 2023, flip phone also expected
These two Indian brands have together sold more smartwatches than Samsung in 2022