Mobile phone manufacturing leaped 21-crease to Rs 4.1 lakh crore in India over the most recent 10 years as government strategy estimates like PLI assumed a basic part in drawing in worldwide players to support local production, industry body ICEA added.
India presently creates 97% of its complete cell phone request locally and 30 percent of the absolute creation in monetary year 2024 is intended for export, the India Cellular and Electronics Association said.
"Mobile phone production surged from Rs 18,900 crore in 2014-15 to an estimated Rs 4,10,000 crore in FY'24, registering an increase of 2000 per cent. In 2014-15, mobile phone exports from India were a mere Rs 1,556 crore. The industry expects to end FY24 with an estimated export of Rs 1,20,000 crore. This would mean a 7500 per cent increase in exports over a decade," ICEA said.
As per a note on manufacturing, in the field of cell phones, Apple and Samsung, play had a significant impact in supporting cell phone trades from the country. India made gadgets are being traded in huge volumes to the UK, Netherlands, Austria, and Italy other than Center East and North Africa and South American business sectors, the note said.
"30 per cent of production in FY'24 will now be meant for exports. The industry expects to end FY'24 with an estimated export of Rs 1.2 lakh crore. Driven by this export growth, mobile phones have now become India's 5th largest export as an individual commodity," the industry body said.
In May 2017, the Indian government reported the Phased Manufacturing Programme (PMP) to advance the domestic production of mobile handsets. This drive helped construct a vigorous native versatile assembling biological system in India and boosted large-scale manufacturing.
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