India mobile manufacturing to reach Rs 1.32 Cr by 2018

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The Indian mobile manufacturing industry is expected to reach Rs 132,000 crore by end of 2018, Minister of Electronics and IT Ravi Shankar Prasad said at an industry event held in the capital yesterday.

mobile manufacturing, smartphones, revenue, Ravi Shankar Prasad, India
Image for representational purpose only

Tele Analysis reported that the Minister said the industry has shown tremendous growth in the last three years. India manufactured 110 million mobile phones in 2015-16 as compared to 60 million in 2014-15 showing a growth of over 90%. In value terms India’s mobile manufacturing industry produced mobile phones worth Rs 54,000 crore in FY15-16 compared to Rs 18,900 crore in FY14-15. The same reached Rs 94,000 crore by end of 2017.

In terms of volume, the minister said, in 2014 India produced 5 core mobile phone made locally in India which reached to 15 crores in 2015-16. In 2017 the Indian mobile manufacturing industry produced 22 million mobile phones.

India has a target of producing 500 million mobile phones from local manufacturing units by 2019. The country is also actively working towards setting up a component manufacturing industry in India and the department of electronics and information technology has set up a fast track task force (FTTF) in this regard. In terms of electronics manufacturing units, the minister said within three years, the industry added 120 such units.

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He further commented India has the world’s third largest start-up community after US and England and India has a vision of taking its digital sector to $1 trillion in next five years while creating 50 lakh to 70 lakh new jobs.

 

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