Indian mobile industry witnessed a solid growth in the last decade when local manufacturing is concerned. Ashwini Vaishnaw, IT and Telecom minister said that the mobile industry within the country has grown 20 times in the last nine years. While most of the smartphones that are 'Made in India' by big manufacturers are only assembled in the country, it is still a big change as more jobs and investments have come from big phone makers.
The production value of smartphones in 2014-15 in India was Rs 18,900 crore. The figure jumped to Rs 3,50,000 crore in 2022-23. In a Twitter post in X, Vaishnaw said that 78% of the smartphones sold in the Indian market in 2014 were imported. But in 2023, 99.2% of all mobiles sold were 'Made in India'.
The development signifies that the OEMs (original equipment manufacturers) have continuously invested in the country to build production/manufacturing facilities. Major phone makers such as Apple, Samsung and some Chinese phone companies manufacture/assemble their products within India. Further, if online reports were to be believed, Apple is looking to shift a major chunk of its iPhone and other gadgets production to India from China in the next 3 to 5 years.
The Indian government has already launched a PLI (Production Linked Incentive) scheme for manufacturing phones and the scheme has been allocated Rs 40,000 crore for the same. Many companies that were already making phones in India or nearby countries would want to be a part of this scheme. The government is also actively trying to build a semiconductor ecosystem within India and a PLI scheme has been floated for that as well.
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With a strong domestic supply chain for the semiconductors, tech manufacturers and mobile makers will benefit immensely as currently global semiconductor manufacturing is concentrated in a few regions which can create price issues whenever there are issues with trade.