Indian Cellular and Electronics Association (ICEA)
♦ According to data from the Indian Cellular and Electronics Association (ICEA), in the fiscal year 2014-15, mobile phone production in India was valued at a modest Rs.18,900 crore. Fast forward to 2023-24, and this figure is expected to escalate to an impressive Rs.4.10 lakh crore. This exponential growth underscores the country’s escalating manufacturing capabilities and its commitment to becoming self-reliant in the electronics sector.
♦ In 2014-15, mobile phone exports stood at a mere Rs.1,556 crore. The last decade (2014-2024) has seen mobile exports worth Rs.3.22 lakh crore, with the year 2023-24 alone touching the Rs.1,20,000 crore mark—marking an astounding 77-fold increase.
♦ In 2014-15, India imported mobile phones worth Rs.48,609 crore. By 2023-24, this number is expected to plummet to Rs.7,665 crore, an 84% reduction.
♦ Since 2014, India has produced an impressive 2.5 billion mobile handsets worth Rs.20 lakh crore. The number of manufacturing units has surged from just a handful in 2014 to over 200 units, making India the second-largest mobile phone manufacturing nation globally.
♦ Between 2023 and 2028, the mobile phone manufacturing sector is expected to generate 8 lakh new jobs, providing a significant boost to the country’s employment rates. The Government of India projects that the sector will be worth $126 billion or Rs.10,587.82 billion by 2025-26.
Posted Date: October 5, 2024
National