“The mobile handsets and component manufacturing ecosystem has emerged as the champion category under the ‘Make in India’ initiative of the government,” said Pankaj Mohindroo, ICEA Chairman and National President.
That being said The Make in India movement launched in 2014 has largely influenced the mobile ecosystem. The initiative has helped India save a whopping Rs 3 Trillion ($43 billion). The report by ICEA( Indian Cellular and Electronics Association) stated that it was because the locally manufactured and assembled handsets have replaced the imports of completely- built units (CBU) during the past four years.
Prior to the Make in India project, India was importing almost 80% of its domestic demand. With 2018, and the current project India has landed at the second position in terms of Mobile manufacturers of the world. According to the report, the impact of the project is not limited to the Indian smartphone industry but it has generated employment for over 450,000 people over the period of last four years. The report stated, over 225 million handsets were assembled/ manufactured in India, this consists of 80% of the total market requirement, which resulted in a saving of Rs 600 billion.
“Mobile phone imports will trickle down to insignificant levels of around five to seven per cent of the market (less than Rs. 1000 crore/month) by the end of 2018 financial year,” Mohindroo said.
With the current growth, will India be able to completely replace Imports? Comment down and let us know what you think!