New Delhi, Mar 11 (KNN) In the last decade, India has witnessed an unprecedented surge in mobile phone manufacturing, with a staggering 21-fold increase in value terms, reaching an impressive Rs 4.1 lakh crore.

This phenomenal growth can be attributed to strategic government policies, particularly the Production Linked Incentive (PLI) scheme, which has successfully enticed global players to invest in local production.

The India Cellular and Electronics Association (ICEA) highlights that India now caters to 97 per cent of its mobile phone demand domestically, a remarkable achievement indicating a significant shift towards self-reliance in this crucial sector.

Moreover, a substantial portion of the production, accounting for 30 per cent in the fiscal year 2024, is earmarked for exports, showcasing India's growing presence in the global market.

The figures speak volumes about the rapid evolution of India's mobile phone manufacturing landscape.

From a modest Rs 18,900 crore in 2014-15, the industry has surged to an estimated Rs 4,10,000 crore in FY'24, marking an extraordinary 2000 per cent increase.

Similarly, exports have witnessed a remarkable upswing, soaring from a mere Rs 1,556 crore to an estimated Rs 1,20,000 crore in the same period, marking a monumental 7500 per cent increase.

Key industry players such as Apple and Samsung have played pivotal roles in boosting mobile phone exports from India, contributing significantly to the country's economic growth.

The export destinations span across continents, with India-manufactured devices finding their way to markets in the UK, Netherlands, Austria, Italy, as well as regions in the Middle East, North Africa, and South America.

The government's proactive initiatives, including the Phased Manufacturing Programme (PMP) and the PLI scheme, have been instrumental in fostering a conducive environment for indigenous mobile manufacturing.

These schemes have incentivised large-scale production, attracting global giants like Foxconn, Pegatron, Rising Star, and Wistron to establish manufacturing bases in India.

Samsung, in particular, operates its second-largest mobile phone factory in Noida, further solidifying India's position as a global manufacturing hub.

A synergistic relationship between the Ministry of Electronics and IT, DPIIT, Ministry of Commerce, Ministry of Finance, NITI Aayog, and the PMO has paved the way for this exponential growth trajectory.

(KNN Bureau)