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In Four Years, India Saved Rs 3 Lakh Crore And Created 450,000 Jobs By Manufacturing Mobile Phones Locally
A Lava Mobiles factory in India. (pic via Twitter)
In the last four years, India has saved over Rs 3 lakh crore by not importing completely built mobile phones from other countries and has created 450,000 jobs by manufacturing handsets locally, Economic Times has reported.
According to the report, at least 120 mobile and component manufacturing units have come up in different parts of the country.
According to a report prepared by India Cellular and Electronics Association (ICEA), handsets assembled or manufactured locally were able to meet 80 per cent demand for mobile phones in the country in 2017-18. Around 225 million units were manufactured or assembled in the country in this period.
“Most global handset brands and manufacturers are eyeing India, which is the world’s fastest growing smartphone market, having overtaken US last year to become the world’s second largest smartphone market after China,” ICEA chairman & national president, Pankaj Mohindroo, has been quoted as saying.
“The mobile manufacturing ecosystem has emerged as the champion category under the 'Make in India' initiative of the government," he added.
ICEA estimates that India has saved Rs 60,000 crore in foreign exchange as a result of local manufacturing of mobile phones. Its research says that in 2018-19, the number of handsets manufactured or assembled in India may increase to around 290 million units collectively valued at Rs 1,65,000 crore .
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