Electronic Manufacturing to boost India economy

New Delhi: India’s electronic manufacturing is expected to reach around $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 2.5 million people are employed in this sector.

Jobs will double in the next five years

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 helping in 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 production has grown at a CAGR of 13 percent from $49 billion in FY 2016-17 to $101 billion in FY 2022-23.

What do Invest India figures say

According to Invest India figures, the export of electronic goods during April 2024 was recorded at $2.65 billion. During April 2023, it was $2.10 billion, i.e. there has been an increase of 25.80 percent.

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