New Delhi, June 3 -- India's smartphone exports stood at $10.96 billion in 2022-23 and surged to $24.14 billion in 2024-25, a striking compound annual growth rate (CAGR) of 48.4%. Long reliant on imports and peripheral to global value chains, India's electronics manufacturing is becoming a pillar for job creation, export growth and technological advancement.

However, India must temper its excitement about labour-led electronics manufacturing growth and double down on boosting domestic value addition.

The 'China plus one' strategy, accelerated by the pandemic and heightened US-China tensions, has led to supply chain diversification by global manufacturers. Among alternatives, India stands out thanks to its vast domestic market, improving...