The mobile manufacturing market has surpassed $44 Bn in value
The Union Electronics And Information Technology Minister also noted that not only phones are being made in India, but the country is also moving up the tech ladder
India has become the second-biggest mobile phone-producing country, as per a report
Union Minister Ashwini Vaishnaw on Monday (November 27) said more than 99% mobile phones used in India are being locally made, adding that the flourishing mobile manufacturing market has surpassed $44 Bn in value.
Taking a swipe at the Opposition leaders, Vaishnaw said, “There are some big leaders in the Opposition who still believe that mobile phones are imported. They forget that today 99.2% mobile phones used in India are made in India.”
The Union Electronics And Information Technology Minister also noted that
not only phones are being made in India, but the country is also moving up the tech ladder. Now, various phone parts are manufactured locally.
“We have reached in the last 9.5 years a level where we can have export-led growth in electronics and products. Every employee of this complex industry has contributed,” the minister said.
India currently has 931 Mn+ smartphone users, which is expected to reach 1.1 Bn+ by 2025, growing at a CAGR of 22%.
According to research firm Statista, the smartphone penetration rate in India will reach close to 71% by 2023.
Meanwhile, ‘Made in India’ mobile phone shipments crossed the 2-Bn cumulative units mark under the ‘Make in India’ initiative during 2014-2022, registering a 23% CAGR, according to a report by Counterpoint. As a result, India has become the second-biggest mobile phone-producing country. The huge internal demand, increasing digital literacy and government push has driven the growth.
The Indian government is actively promoting local manufacturing and value addition through initiatives like the Make in India and Production Linked Incentive (PLI), among others. These schemes aim to boost the domestic production of goods and encourage self-sufficiency in various sectors.
Tech giant Apple is also ramping up iPhone production in India, targeting a production value exceeding $40 Bn within 4-5 years. Simultaneously, Google’s recent announcement of Pixel smartphone manufacturing in India supports the country’s aspirations as a global manufacturing hub. Starting with Pixel 8 and Pixel 8 Pro, Google aims to roll out the first locally manufactured devices by 2024.
