Mobile Phone Manufacturing In India Up 1,700 Percent In A Decade: MoS IT
Mobile phone Manufacturing In india Up 1,700 Percent In A Decade: MoS IT
Mobile phone manufacturing in india has seen a remarkable surge, jumping from an estimated Rs 18,900 crore in 2014-15 to approximately Rs 3,50,000 crore in 2022-2023
India's position in the global electronics supply chain has evolved from being nearly insignificant to swiftly emerging as a substantial and reliable participant in the global electronics value chain (GVC), minister of State for Electronics and IT, rajeev Chandrasekhar, on Wednesday, said while responding to a question in Lok Sabha.
“To transform our domestic manufacturing from import substitution to export-led manufacturing, the government has reduced the basic customs duty (BCD) to 10 percent (from 15 percent) on the goods covered under mechanics, die-cut parts, and others categories for use in the manufacturing of mobile phones,” chandrasekhar was quoted as saying by IANS.
The export of mobile phones has also increased from an estimated Rs 1,566 crore in 2014-15 to an estimated Rs 90,000 crore in 2022-23, making an impressive increase in exports by more than 5,600 percent,” the MoS added. The plan to elevate electronics production to $300 billion from the current approximately $75 billion hinges on expanding and intensifying electronics manufacturing activities across the country.
“Government envisions to position india as a global hub for export-driven manufacturing hub and electronics system design and manufacturing (ESDM) by encouraging and driving capabilities in the country for developing core components, including chipsets, and creating an enabling environment for the industry to compete globally,” the MoS noted.