India’s electronics sector has achieved its target set ten years ago, positioning itself as the world’s second-largest producer of mobile phones, as reported by the India Cellular and Electronics Association (ICEA).
Over the past decade, India has manufactured 2.45 billion mobile phone units valued at Rs 4.1 lakh crore, a significant increase from Rs 18,900 crore in 2014-15.
Representing major brands such as Apple, Xiaomi, Oppo, Vivo, and Lava, ICEA highlighted the industry’s transition from 78 percent import dependency in 2014 to 97 percent self-sufficiency presently, with only 3 percent of mobile phones being imported.
Although the industry aimed for Rs 20 lakh crore in production over the period, it concluded at Rs 19.45 lakh core.
Mobile phone exports, which were a mere Rs 1,556 crore in 2014-15, are anticipated to reach Rs 1.2 lakh crore by the end of FY24, marking a 7500 percent increase over the decade. Cumulative mobile phone exports from 2014 to 2024 are estimated at Rs 3.22 lakh crore, making mobile phones the fifth largest export commodity for India.
Chairman of ICEA, Pankaj Mohindroo, expressed belief that India’s GDP doubling from $3.7 trillion to $7 trillion by 2030 will be driven by growth in the digital sector and trade, with electronics manufacturing, particularly mobile production, playing a crucial role.
He emphasized the need to shift global value chains (GVCs) to India to generate substantial manufacturing jobs and enhance domestic value addition, requiring unparalleled competitiveness and large-scale factories unprecedented in India.
