India Stands 2nd in Smartphone Manufacturing, Says Ravi Shankar

During the launch of the ‘Electronics Manufacturing Schemes,’ the Union Minister Ravi Shankar Prasad said India has emerged as the second largest mobile phone manufacturer in the world.

The country has set up more than 200 mobile phone manufacturing units in the last 5 years, tweeted Minister on June 2, 2020.

According to the graphical representation shared by the Minister, India has exported 36 million smartphones in FY 2020, up by 111.76% from 17 million units in FY 2019.

Some Other Highlights Include

Over 330 million mobile phones produced in 2019-20
Value of mobile handsets produced increased from USD 3 billion in 2014 to USD 30 billion in 2019
Smartphones worth INR 210 billion were exported with a growth rate of 91% in FY 2020
India’s electronic manufacturing size increased from INR 1,90,366 crore in 2014 to INR 4,58,000 crore in 2019
India’s share in the global electronics market increased from 1.3% in 2012 to 3% in 2018

Samsung, Realme and Xiaomi are some of the leading smartphone manufacturers producing mobile phones locally in India.

As of today, 99% of smartphones are #MadeInIndia while 65% of parts are locally sourced.

Earlier, PM Modi has initiated Aatma Nirbhar Bharat Abhiyan (a self-reliant India) to promote a robust manufacturing ecosystem in India.

Today, Minister Shankar has launched three new schemes to help bolster domestic electronic manufacturing in India under #ThinkElectronicsThinkIndia.

The schemes include

Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing
Scheme for Promotion of Manufacturing of Electronics Components and Semiconductors (SPECS)
Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme

The new schemes are poised to contribute significantly to achieve a USD 1 trillion digital economy and a USD 5 trillion GDP by 2025.

More Business Articles:

Share this post