Key Points
Mobile phone manufacturing in value terms jumped 21-fold to Rs 4.1 lakh crore in India in the last 10 years as government policy measures like PLI played a critical role in attracting global players to boost local production, industry body ICEA said in a statement..
India now produces 97 per cent of its total mobile phone demand locally and 30 per cent of the total production in financial year 2024 is meant 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..
India manufactured devices are being exported in large volumes to the UK, Netherlands, Austria, and Italy besides Middle East and North Africa and South American markets, the note said.. "30 per cent of production in FY'24 will now be meant for exports..
"This exponential growth in production, exports and self-sufficiency stems from a conducive policy environment, and a close working relationship between industry and key Government Ministries such as the Ministry of Electronics and IT, DPIIT, Ministry of Commerce, Ministry of Finance, NITI Aayog and the PMO," ICEA said..
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