As per the India Cellular and Electronics Association (ICEA), India has emerged as the world’s second-largest producer of mobile phones over the past decade. Indian electronics manufacturing sector is currently manufacturing the likes of Apple, Xiaomi, Oppo, and Vivo.
From Imports to Self-Sufficiency: Story of Indian Electronics Manufacturing Surge
The data by ICEA suggests in the year 2014-15, India produced INR 18,900 crore worth mobile phones, whereas with 2.45 billion units valued at INR 4.1 trillion in the latest year, the units as well as its value has surged like anything.
Notably, the rise of the electronics manufacturing sector has also made the country self-sufficient and has reduced the imports of smartphones. In the year 2014, as many as 78% of phones were imported, whereas with the current 97% self-sufficiency, only 3% of mobile phones that are sold in the country as imported. These are impressive figures to say at the least.
Emphasizing the importance as well as aftermath of manufacturing operations scale up to unprecedented levels, Chairman of ICEA, Pankaj Mohindroo said that the especially the mobile production in the electronics manufacturing will go a long way in propelling India’s GDP to double by 2030.
Mobile phones have emerged as India’s fifth-largest export commodity and the cumulative exports have reached an estimated INR 3.2 trillion from 2014 to 2024.
Reaching an estimated INR 1.2 trillion, by the end of FY24, a massive 7,500% increase in exports is suggested by the forecasts.
World Eyes India as Key Manufacturing Hub for Smartphones
Global smartphone manufactures, amidst the geopolitical tensions and also the production linked incentives, are eying Indian market as their next place to manufacture. Major players have been lured and roped in by the government’s production-linked scheme (PLI) and state-level initiatives, such as expedited land acquisition and approvals.
The same is also reflected in the latest partnerships, wherein BBK Group’s is shaking hands with the Indian manufacturers Dixon Technologies and Karbonn Group.
Those are already present in India are ramping up their production and adding flagship devices to the list of products being produced in the country.
Google has announced plans to produce Pixel smartphones locally in India. On the other hand, Cupertino based giant, Apple has significantly expanded its manufacturing operations in the country and claimed that India currently produces 7% of all iPhones being produced globally, taking the Apple’s iPhone production in India to INR 1 trillion in 2023.
