INDIA: The total number of locally produced mobile phones shipped between 2014 and 2022 has surpassed 2 billion due to the Central Government’s “Make in India” initiative, as per reports.
According to a report by the international research firm Counterpoint, India’s mobile phone shipments experienced a 23% compound annual growth rate (CAGR). It further states that the country’s rising demand, rising levels of digital literacy, and strategic government backing have all contributed to this increase.
India has become the world’s second-largest mobile phone producer, with these advances. The government initiatives like the Phased Manufacturing Programme (PMP), Make in India, Production Linked Incentive (PLI), and Atma-Nirbhar Bharat have led to a surge in domestic mobile phone manufacturing in recent years.
Counterpoint’s Tarun Pathak, Research Director, reports that local manufacturing in the nation has significantly grown over the years to meet rising domestic demand. In 2022, domestic production accounted for 98% of all mobile phone shipments from the country, a significant increase from 19% in 2014. The growth of local value addition is also evident, with an average of over 15%, according to the report.
Pathak noted that businesses are establishing manufacturing facilities for components and mobile phones, boosting the country’s developing ecosystem. This trend has led to increased investments, job openings, and industry growth. The Indian government is now aiming to position the nation as a semiconductor manufacturing and export hub by implementing various initiatives.
The government has significantly boosted the expansion of the mobile phone manufacturing industry through initiatives such as the Phased Manufacturing Programme, increasing import duties on fully built units and essential parts, and the Production Linked Incentive (PLI) scheme, which includes 14 sectors, including mobile phone manufacturing, according to Prachir Singh, Senior Analyst at Counterpoint.
These measures, part of the Self-Reliant India policy, have led to a significant increase in the nation’s exports.
According to the report, the government is now concentrating on making India a global leader in semiconductors. The $1.4 trillion in infrastructure investment and proposed semiconductor PLI programme serve as further evidence of the government’s dedication to promoting a vibrant manufacturing environment across the country.
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