India’s Ambitious Mobile Export Goals and Electronics Employment Prospects

New Delhi, Union IT and Communications Minister Ashwini Vaishnaw predicts a significant surge in mobile phone exports from India, projecting a growth to USD 50-60 billion from the previous year’s USD 11 billion. At a fintech event, the minister also anticipates a substantial rise in employment within the electronics manufacturing sector, foreseeing a jump from the current 10 lakh to 25 lakh employees in the near future.

Mobile Phone Export Outlook

Vaishnaw highlights the remarkable transformation in India’s mobile phone manufacturing landscape, noting that a decade ago, the country imported 98% of mobile phones, whereas now, 99% of devices are domestically produced. He underscores the potential for exponential growth in mobile phone exports, envisioning a substantial increase to USD 50-60 billion.

Employment Growth in Electronics Manufacturing

In addition to the optimistic export projections, Vaishnaw emphasizes the employment opportunities within the electronics manufacturing sector. He anticipates a significant expansion of the workforce, with employment expected to reach 25 lakh individuals, doubling the current workforce of 10 lakh.

Economic Growth Trajectory

Vaishnaw shares insights into India’s economic trajectory, asserting that the country is poised to become the third-largest economy by 2027, a remarkable ascent from its 11th position in 2014. Citing a report by Jefferies Equity Research, he underscores India’s potential to achieve a market capitalization of USD 10 trillion by 2030.

Infrastructure Development

The minister highlights the strides made in infrastructure development, citing significant achievements in railways, highways, and airports. He notes the addition of 5,200 kilometers of railway lines last year and the doubling of airports over the past decade, reflecting India’s commitment to bolstering its transportation infrastructure.

Transformational Governance

Vaishnaw attributes India’s economic resurgence to transformative governance under Prime Minister Narendra Modi. He highlights advancements across various sectors, including education and healthcare, emphasizing the expansion of institutions like IITs and AIIMS, and the reduction of poverty by lifting 25 crore people out of extreme deprivation.

Progress in Sports and Digital Payments

The minister underscores India’s progress in sports and digital payments, citing increased transparency and investment in athlete training. He contrasts the negative perceptions of India’s economy pre-2014 with its current status as a global growth engine, emphasizing the country’s resilience and steady pace of development.

Vaishnaw’s remarks paint a picture of India’s ambitious growth agenda, driven by a robust manufacturing sector and transformative governance initiatives aimed at fostering economic prosperity and inclusive development.