Indias Steel and Electronics Sectors: A Global Success Story

India has made significant strides in the steel, electronics, and IT industries, achieving notable positions on the global stage. Minister of State for Road Transport and Highways, V K Singh, highlighted these achievements at a press conference held in the national capital. The minister's remarks shed light on the remarkable growth and accomplishments of these sectors in recent years.

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Steel Sector: A Global Leader

India has emerged as the second-largest steel-producing nation globally, with a steelmaking capacity of 161 million tonnes (MT) in FY 2023. This represents a substantial increase from the 102 MT capacity in FY 2013-14, marking a 58% growth. The country has also witnessed a significant rise in per capita steel consumption, from around 59 kilograms to approximately 86 kilograms, indicating a 46% increase. Exports in steel have also shown a positive trajectory, rising from 5.98 MT to 6.72 MT during the same period.

To further bolster domestic steel production, the government has introduced several measures, including the Rs 6,322 crore Production Linked Incentive (PLI) scheme and the National Steel Policy (NSP). These initiatives aim to scale up the production capacity to 300 MT by 2030 and enhance per capita steel consumption to around 160 kgs.

Electronics Sector: A Rising Powerhouse

The electronics sector in India has witnessed phenomenal growth, particularly in the mobile phone segment. Production has skyrocketed from approximately 6 crore units in 2014-15 to an impressive 32 crore units in 2021-22. This remarkable surge has positioned India as the second-largest mobile phone producer globally. Exports of mobile handsets have also experienced a substantial rise, soaring from over Rs 1,566 crore in FY 2014-15 to a staggering Rs 35,696 crore in FY 2021-22. The value of mobile phone exports in FY 2022-23 till January 2023 stood at an impressive Rs 68,605 crore.

India's electronics manufacturing prowess has also expanded significantly, with the country's share in global electronics manufacturing growing from 1.3% in 2012 to 3.75% in FY 21-22. Exports of electronic goods have witnessed a remarkable surge, increasing from INR 39,978 crore (USD 5.96 billion) in 2016-17 to INR 109,797 crore (USD 14.6 Billion) in 2021-22, reflecting a robust Compound Annual Growth Rate (CAGR) of 22.39%.

IT Sector: Empowering Citizens

In the realm of IT, India has made significant strides in enhancing citizen services and promoting digital inclusion. Through the UMANG platform, over 21,800 government services are now accessible to more than 5 crore users from over 300 central and state departments. This user-friendly platform has revolutionized the delivery of public services, enabling citizens to access essential services with just a few clicks. Additionally, the issuance of Aadhaar, a unique identification number, has reached an impressive milestone of over 136 crore, further empowering citizens and facilitating access to various services.

India's remarkable progress in the steel, electronics, and IT sectors is a testament to the country's unwavering commitment to innovation, technological advancement, and economic growth. The achievements highlighted by Minister V K Singh showcase the nation's potential as a global leader in these industries. By leveraging its strengths and capitalizing on emerging opportunities, India is poised to continue its upward trajectory, transforming into a powerhouse of steel, electronics, and IT excellence.