India’s electronics manufacturing industry has met a goal it set a decade ago to become the world’s second-largest mobile phone maker, according to the India Cellular and Electronics Association (ICEA).
According to ICEA, which represents top smartphone brands like Apple, Xiaomi, Oppo and Vivo, India’s mobile phone production was 2.45 billion units valued at Rs 410,000 crore, but it was 18,900 units in 2014-15.
The industry body further said that the industry has gone from 78% import dependence in 2014 to 97% self-sufficiency at present. Only 3% of the total mobile phones sold in India.
Cumulative mobile phone exports during 2014-24 reached a total estimate of 3.2 Lakh Cr. With this growth in exports, mobile phones have now become India’s fifth largest export as a single commodity.
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The industry expects an estimated export value of 120,000 kroner by the end of FY2024, representing a 7,500 percent increase in export value over 10 years.
This comes at a time when most global smartphone makers are turning to the Indian market. The latest is OnePlus co-founder Carl Pei’s Nothing.
Many are shifting some of their manufacturing from China to India at a time of ongoing geopolitical tensions between Washington DC and Beijing and a host of incentives being offered by the Indian government.
Chinese phone maker BBK Group has announced a partnership with Indian manufacturers Dixon Technologies and Karbonn Group to manufacture its Oppo, Vivo and Realme smartphones.
Late last year, Google also announced that it would manufacture its Pixel smartphones in the country. Meanwhile, Apple is ramping up production in India, with the country now accounting for nearly 7% of total iPhone production worldwide. Overall, Apple produced iPhones worth 1 Lakh Cr in India in 2023.
