The government is on track to meet the $300 billion electronics manufacturing objective, representing a staggering 20-25 times increase in over a decade, according to Union Minister of State for Electronics and IT Rajeev Chandrasekhar. According to the Vision Document 2.0 prepared by the IT Ministry and the India Cellular and Electronics Association (ICEA), India can reach $300 billion in electronics manufacturing and exports by 2025-26 if specific product segments with high potential for scale are shortlisted and catered to through incentives and policy measures.

"In 2014, electronics manufacturing was worth about $12 billion, and India's target for the next decade, by 2026, is $300 billion, representing a 20-25x increase in 11 years." "Many thanks to Prime Minister @narendramodi ji's decisive policies and governance," Chandrasekhar tweeted. Led by domestically built mobile phones, India's electronics industry recorded record exports of electronic goods of Rs 1,85,000 crore in FY22-23, up from Rs 1,16,936 crore in FY21-22, a stunning 58% increase.

According to data by ICEA, mobile phone exports made history by crossing the $10 billion threshold for the first time in any fiscal year, reaching an estimated $11.12 billion (over Rs 90,000 crore) in FY23.The electronics manufacturing industry grew from $37.1 billion in 2015-16 to $67.3 billion in 2020-21. However, Covid-19 related disruptions impacted the growth trajectory in 2020-21 and led to a decline in the manufacturing output to $67.3 billion.