India Becomes Second-Biggest Mobile Phone Producer, Cumulative Production Crosses 2 Billion Units

ENA Sectors 2023-08-14 17:42:04 New Delhi, Aug 14 (KNN) Made in India mobile phone shipments crossed the 2-billion cumulative units mark under the Make in India initiative during 2014-2022, registering a 23% CAGR, according to the latest research from Counterpoints Made in India service. The growth in shipments, Counterpoint said, was driven by the huge internal demand, increasing digital literacy, and government push as reported by ET Telecom. <a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a> As a result, India has become the second-biggest phone-producing country, the research firm said. We have seen local manufacturing increase over the years to meet domestic demand. In 2022, more than 98% of shipments in the overall Indian market were Made in India, compared to just 19% when the current government took over in 2014. We have also seen increasing local value addition and supply chain development in the country, said Research Director Tarun Pathak. Pathak underscored that the local value addition in India is currently at an average of more than 15%, compared to the low single-digits eight years ago. He added that many companies are also setting up units in the country for manufacturing mobile phones as well as components, which is driving investments, increasing jobs, and the ecosystem development. Going forward, we may see increasing production, especially for smartphones, as India gears to bridge the urban-rural digital divide and also become a mobile phone exporting powerhouse, he said. Senior Analyst Prachir Singh highlighted that under the Make in India initiative, the Central government introduced the Phased Manufacturing Program and increased import duties on completely built units and some key components to push local manufacturing and value addition. Under the Self-Reliant India scheme, the government introduced the Production Linked Incentive (PLI) scheme for 14 sectors, including mobile phone manufacturing. Due to all this, exports from India have increased, Singh said. The analysts also mentioned that the Central government is now focused on making India a semiconductor hub. India has proposed a semiconductor PLI scheme and now is focusing more on infrastructure with a proposed investment of USD 1.4 trillion, Singh said. (KNN Bureau) 34450 https://knnindia.co.in/news/newsdetails/sectors/india-becomes-second-biggest-mobile-phone-producer-cumulative-production-crosses-2-billion-units 2023-08-14 17:42:04 knnindia.co.in India Becomes Second-Biggest Mobile Phone Producer, Cumulative Production Crosses 2 Billion Units