Exports of Electronic goods witness a quantum jump of more than 400% from Rs 38,263 crores in 2014 to Rs 1,92,527 crores in January 2023.During FY 2022-23 (April-March) electronic goods exports were recorded at USD 23.57 billion as compared to USD 15.66 billion during FY 2021-22 (April-March), registering a substantive growth of 50.52%.
The National Policy on Electronics 2019 (NPE 2019) aims to position India as a global hub for Electronics System Design and Manufacturing (ESDM) by encouraging and driving capabilities in the country for developing core components and creating an enabling environment for the industry to compete globally. Four schemes namely the Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing, the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), Modified Electronics Manufacturing Clusters Scheme (EMC 2.0), and the Production Linked Incentive Scheme (PLI) for IT Hardware(2.0) have been introduced to boost to the electronics sector and establish the necessary ecosystem.