India’s electronics industry has successfully achieved its goals a decade ago and has emerged as the world’s second-largest mobile phone manufacturer. This achievement points towards the strength of the country’s electronics manufacturing sector, which has seen significant growth over the past decade.
ICEA says that due to this rapid growth in exports, mobile phones have become India’s 5th largest export commodity.
Decade of Development of India
Over the last ten years, India’s electronics manufacturing industry has produced an estimated 2.45 billion units of mobile phones. This production is worth approximately ₹4.1 trillion(lakh crore) in FY24, which is significantly higher than ₹1.89 trillion(lakh crore) a decade ago. The industry had set a target of ₹20 trillion for a ten-year period and has achieved ₹19.45 trillion in cumulative production.
In the financial year 2014-15, the export of mobile phones from India was only Rs 1,556 crore. This estimate for the mobile industry is expected to increase to Rs 1.2 lakh crore in the financial year 2023-2024, which means it may see an increase of 7500% in a decade.
India’s Success in Mobile Exports
Mobile phones have now emerged as India’s fifth-largest export. During the ten-year period, cumulative exports of mobile phones have reached an estimated ₹3.22 trillion. In the current fiscal year, 30% of production will be for exports.
India’s Future Vision
The success of India’s mobile manufacturing industry is expected to play a significant role in the country’s economic development. It is believed that the digital sector and business development will lead to a doubling of India’s GDP from the current $3.7 trillion to $7 trillion by 2030. In both these sectors, electronics manufacturing, including mobile production, will play a crucial role.
Which Companies have role in India’s mobile manufacture?
Several companies have significantly contributed to India’s mobile manufacturing sector.
- Samsung Electronics Co. Ltd.: Samsung opened the world’s largest phone manufacturing unit in Noida, Uttar Pradesh.
- Xiaomi Corporation: Xiaomi has its manufacturing units in Andhra Pradesh and Tamil Nadu.
- Oppo Mobile Communications Co. Ltd.: Oppo has its manufacturing base in Greater Noida, Uttar Pradesh.
- Vivo Mobile Communications Co. Ltd.: Vivo has its manufacturing base in Greater Noida, Uttar Pradesh.
- Apple Inc.: Apple accounted for 25% of the total value of locally made handsets in 2022, up from 12% in 2021. The company’s production volumes grew 65% on-year, while in value terms, it zoomed by 162% on 2023.
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Conclusion
India’s emergence as the world’s second-largest mobile manufacturer is a significant achievement. It demonstrates the success of the country’s electronics industry and the effectiveness of government initiatives such as ‘Make in India’. As the country continues to boost its digital sector and business, the mobile manufacturing industry is poised to play an even more crucial role in the future.