India’s electronics manufacturing sector is set to grow by 15 per cent to be worth $115 billion in 2024, with players continuing to focus more on higher levels of value addition in terms of components and development of products. 

Production of mobile phones, the poster boy of the country’s electronics manufacturing, is expected to surpass $50 billion by March 2024 from around $42 billion in the previous financial year. 

Google’s Pixel smartphone production in India from the first quarter of 2024 will complete the manufacturing presence of all global majors in the country. 

India Cellular and Electronics Association (ICEA) Chairman Pankaj Mohindroo has said that total production of electronic goods in 2023-24 is estimated to reach $115 billion, buoyed by an exceptional contribution of mobile phones, which is estimated to exceed $50 billion in the current financial year. 

According to data shared by the government, domestic electronics manufacturing increased over four-fold to Rs 8.22 lakh crore or $102 billion in the last 10 years from Rs 1,80,454 crore ($29.8 billion) in FY14. 

Mr Mohindroo has said that mobile phone exports are expected at $15 billion in FY24, posting 35 per cent growth over the last financial year. 

The ICEA estimates that mobile phone exports have surpassed $9 billion during the April-November period of this financial year compared to $6.2 billion during the same period last year.