PWG Business News: Your Gateway to Market Intelligence
PWG Business News is committed to providing real-time updates and expert-driven insights across various industries, including technology, healthcare, finance, energy, automotive, and consumer goods. We deliver carefully curated news, financial reports, and research-based updates, helping businesses and professionals stay informed and competitive in today’s dynamic business environment.
Our News section covers industry-shaping events such as market expansions, new product launches, mergers and acquisitions, policy shifts, and corporate earnings, offering a strategic advantage to decision-makers seeking actionable intelligence. By bridging industry leaders, stakeholders, and professionals with data-driven content, we empower our audience to navigate the complexities of the global market with confidence.
PWG Business News: Keeping You Ahead in the Business World
At PWG Business News, we deliver timely and credible business news, covering global market trends, economic shifts, and emerging opportunities. With comprehensive coverage spanning healthcare, technology, telecommunications, utilities, materials, chemicals, and financials, our platform provides accurate, well-researched insights that drive success for executives, investors, and industry professionals alike.
Whether you're tracking regulatory updates, innovation trends, or strategic collaborations, PWG Business News ensures you have access to high-quality, data-backed reports that enhance brand visibility, credibility, and engagement. Our mission is to keep you ahead by serving as your trusted source for impactful industry news and market intelligence.
Stay informed with PWG Business News – your gateway to the insights that shape the future of business.
Information Technology
India is on the cusp of a significant milestone in its electronics sector, with exports poised to exceed Rs 3 lakh crore for the first time in the current financial year (FY25). This remarkable growth is largely attributed to the surge in smartphone manufacturing and exports, particularly those of Apple iPhones. The sector's success underscores the effectiveness of India's production-linked incentive (PLI) scheme and the 'Make in India' initiative, which are aimed at transforming the country into a global electronics manufacturing hub.
Smartphones have become the dominant category in India's electronics exports, contributing significantly to the sector's overall growth. In the first 11 months of FY25, smartphone exports alone reached Rs 1.75 lakh crore, marking a 54% increase over the same period in the previous fiscal year[1][2]. Apple's iPhones are a major driver of this growth, with exports valued at Rs 1.25 lakh crore, constituting 70% of total smartphone exports and 43% of total electronics exports in the same period[1].
The PLI scheme has played a pivotal role in attracting foreign tech giants like Apple to set up manufacturing facilities in India. This initiative provides incentives to companies based on production levels, encouraging them to establish robust supply chains within the country. As a result, India has become a critical location for Apple's iPhone manufacturing, with significant contributions from Foxconn's facility in Tamil Nadu and Tata Electronics' recent acquisitions[1][5].
The surge in electronics manufacturing has had a substantial positive impact on the Indian economy. The PLI scheme has not only boosted exports but also led to significant investments and job creation across the sector. As of now, investments under the PLI scheme have reached Rs 1.61 lakh crore, with production valued at Rs 14 lakh crore and exports amounting to Rs 5.31 lakh crore. Additionally, the scheme has created over 11.5 lakh jobs, further solidifying India's position in the global electronics market[1].
India aims to achieve $300 billion in electronics production by 2026, driven by the government's strategic initiatives and growing domestic demand. Today, India is the second-largest mobile phone producer globally, having transformed from just two manufacturing units in 2014 to over 300 units currently[3]. The sector's growth is supported by policies that have increased local production to meet almost 100% of domestic demand, marking a significant shift from the past when imports dominated the market[3].
In a move to deepen India's electronics value chain, the government has announced a Rs 22,919 crore Electronics Component Manufacturing Scheme (ECMS). This initiative focuses on incentivizing the domestic production of key electronics components, aiming to enhance India's value addition in the sector from the current 18% to double by 2030[5].
Benefits of the ECMS:
India's success in electronics exports and manufacturing presents promising opportunities for growth, especially with its increasing share in global smartphone production. However, challenges such as threats of reciprocal tariffs and maintaining competitiveness with countries like China and Vietnam need to be addressed[4].
To navigate these challenges, India is working on rationalizing tariffs and further strengthening its manufacturing capabilities through continued investments in infrastructure and human capital. The combined efforts of the government and industry are expected to make India a highly competitive player in the global electronics sector.
As India's electronics exports continue on their upward trajectory, the country is not only setting new records but also positioning itself as a major hub for electronics manufacturing. The focus on producing key components and broadening the value chain is crucial for sustaining growth and meeting ambitious targets. With the PLI scheme and initiatives like the ECMS, India is strategically poised to assert its dominance in the global electronics market, contributing significantly to its economic growth and job creation over the coming years.
