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India’s electronic manufacturing is likely to reach approximately $250 billion in the next five years. According to media reports, the country’s electronic exports are currently between $125 and $130 billion. The government is also planning to solve the unemployment problem by creating jobs in the electronic manufacturing sector. Currently 25 lakh people are employed in this sector.
According to media reports, the government will double the number of jobs in this sector in the next five years. According to Invest India, technology changes such as 5G networks and IoT (Internet of Things) are driving the rapid adoption of electronics products.
Projects like Digital India and Smart City have increased the demand for IoT in the electronic device market and will undoubtedly usher in a new era for electronic products. Currently, India’s domestic product is projected to grow at a CAGR of 13 percent from $49 billion in FY 2016-17 to $101 billion in FY 2022-23.
According to data from Invest India, exports of electronic goods reached $2.65 billion during April 2024. It was $2.10 billion during April 2023, i.e. an increase of 25.80 percent.
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The country’s foreign exchange reserves hit an all-time high of $655.81 billion.
(This news is not edited by the NDTV team. It is published directly from the syndicate feed.)
