Worlds 2nd biggest Mobile manufacturer- A proud moment for India – 2023

Worlds 2nd biggest Mobile manufacturer

India is making progress towards its ambitious goal of being self-sufficient in manufacturing mobile phones. According to a new study, as part of its Make in India strategy, India sold 2 billion domestically made smartphones and feature phones between 2014 and 2022. 
India is the second-largest handset market in the world and is working to become self-sufficient with the help of its expanding manufacturing infrastructure.

Worlds 2nd biggest Mobile manufacturer-Indian market progress

Worlds 2nd biggest Mobile manufacturer – According to market and research firm Counterpoint, which has its headquarters in Hong Kong, a startling 98% of all mobile phone shipments within the Indian market will be made domestically in 2022, with 16% of the production being exported, up from just 19% in 2014, the year Prime Minister Narendra Modi’s administration came to power.

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Worlds 2nd biggest Mobile manufacturer-The manufacture of mobile phones has advanced significantly in India, . In comparison to the low single digits eight years ago, local value creation in India now averages more than 15%. Numerous businesses are establishing facilities in the nation to produce components for mobile phones, which is boosting investments, creating more jobs, and enhancing the ecosystem as a whole.

According to Counterpoint, India has solidified its place as the world’s second-largest maker of mobile phones by assembling the final 500 million smartphones and feature phones in just two years.

  As of today, India is home to 200 smartphone and feature brand factories-

 Worlds 2nd biggest Mobile manufacturer – As of today, India is home to 200 smartphone and feature brand factories, up from just two in 2014. , India produces almost a quarter of all smartphones made in China and assembles roughly 1.8 times as many as Vietnam. The top three producers of smartphones are China, India, and Vietnam.

Worlds 2nd biggest Mobile manufacturer -The government also unveiled the PLI programme for mobile phones at the beginning of 2020. In essence, the government pays Indian manufacturers – whether they are domestic or foreign-owned – 6% of the invoice price of a phone, which decreases to 4% in the fifth year for every additional unit made in India. State governments additionally provide subsidies for land, power, and taxes to entice businesses to locate there.

Due to the rush by Western businesses to find a replacement for China as the world’s manufacturing floor, India has also profited. Although hardware businesses are expanding their presence in India, current administration officials argue that the South Asian market may have benefited had the previous ruling parties worked more.

There has been a lot of attention in the recent extraordinary increase in exports of mobile phones from India. Mobile phone imports totaled about $3.6 billion from April 2017 to March 2018, compared to a pitiful $334 million in exports. Thus, exports were negative by $3.3 billion. Phone imports had decreased to $1.6 billion during the financial year April 2022–March 2023, while phone exports had increased to around $11 billion. Therefore, net exports were $9.8 billion, an increase of $13.1 billion over 2017–18.

  Mobile phone imports and exports, appeals to supporters of programms like PLI. Note that imports  decreased quickly once tariffs were imposed in 2018, while exports   began to soar. Five months after the introduction of hefty tariffs in April 2018, net exports (the bars) started to increase.

Make in India – Next plan.

“The government now intends to capitalize on its various schemes to make India a ‘semiconductor manufacturing and export hub.’ Going forward, we may see increasing production, especially for smartphones, as India gears to bridge the urban-rural digital divide and also become a mobile phone exporting powerhouse,” said Tarun Pathak, research director at Counterpoint, in a statement.

India has profited as well as Western businesses seek to find a replacement for China as the world’s factory floor. The current administration claims that the South Asian market may have fared better had the previous ruling parties worked more, despite the fact that India is attracting hardware businesses to expand their presence in the country.