Overtaking Vietnam, India is now positioned as the second largest mobile phone producer in the world after China. Based on data from market research firm IHS Markit Ltd., China’s National Bureau of Statistics, and Vietnam’s General Statistics Office, the Indian Cellular Association reported that the annual production of mobile phones within the country increased from 3 million devices in 2014 to 11 million devices in 2017.
With the rise in mobile phone production, imports of the devices in the country also reduced to less than half in 2017-18.
The Fast Track Task Force, a body under India’s Ministry of Electronics and IT which has members from industry and government, has set four targets to be achieved by the end of 2019:
- To produce 500 million mobile phones in India with an estimated value of $46 billion
- To create an $8 billion industry for component manufacturing
- To create 1.5 million direct and indirect jobs
- To export 120 million mobile phone units with an estimated value of $1.5 million
