Smartphone exports in the last financial year crossed a record Rs 2 lakh crore, a jump of 54% year-on-year in shipments, Minister for Electronics and IT Ashwini Vaishnaw said on Tuesday.
Of that, shipments for Apple's iPhone exports are worth Rs 1.5 lakh crore alone, Vaishnaw told reporters in New Delhi.
The minister also said that guidelines for the Union government's Rs 22,919-crore Electronics Components Scheme were set to be rolled out within the next three weeks.
The scheme will be notified on Tuesday for public consultations, and inputs will be gathered over the next two weeks. "Within three weeks, the scheme will be running and applications will be invited via a portal," Vaishnaw said.
He added that manufacturing of equipment required to make precision capital goods were also covered under the scheme.
"We will be supporting the manufacturing of capital equipment as well under scheme... equipment will be used to make components that will go into all sorts of electronics," he added.
The diversity of component manufacturers has substantially increased over the past few years. More than 400 production units are now present in India and electronics is now among top exported goods out of India, according to Vaishnaw.
The scheme will have a multiplier impact for many sectors since components like resistors, capacitors, inductors, coils, speakers, relays, switches, connectors, antennas, motors, filters, non-chip sensors, transducers, laminates, copper foils, separators, cathode and anode materials will be made, which have applications across sectors, he said.
"The budgetary allocation is sufficient for now," he said, adding that within five years, the government was looking at 40% value addition in electronics manufacturing. "We're currently at 20 and China is at 38%. (The) aim is to go beyond that."
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