India’s Mobile Manufacturing To Touch Rs 94,000 Cr By 2017

Make-In-India-Mobile-ManufacturingResponding enthusiastically to Prime minister Narendra Modi’s clarion call of Make in  India, the market size of the India’s mobile manufacturing is expected to reach Rs 94,000 crore by end of this fiscal.

Electronics minister Ravi Shankar Prasad revealed this while inaugurating the mobile manufacturing plant of Chinese smartphone player LeEco.

Prasad said in value terms the local mobile manufacturing industry has grown by 185%. In 2014-15 India produced locally made mobile phones worth Rs 19,000 crore whereas it jumped to Rs 54,000 crore in 2015-16.

“This is likely to touch Rs 94,000 crore in 2016-17,” Prasad added.

In volume terms also, India has demonstrated significant improvement. In fiscal year 2014-15 India produced a total of 6 crore or 60 million mobile phones which increased to 11 crore or 110 millions by 2015-16 showing a growth of 83%. It is expected that India’s mobile manufacturing units would produce around 220 million phones by fiscal 2016-17.

He also said that in just one year 38 electronics manufacturing plants were set up in various parts of the country and 25 mobile phone manufacturers have started their local production here. This also gave rise to employment opportunity of around 40,000 people.

Prasad said, besides manufacturing, India’s smartphone growth is also among the highest in the world. During the second quarter of 2016-17 India’s smartphone market grew by 15% whereas other developing nations grew at a rate of 9.9% and the developed nations at 4.3%.

LeEco that started its local production in its Greater Noida plant also employs 200 people. The mobile manufacturing plant was set up in partnership with Compal Electronics and is having a total area of 2,00,000 square feet.

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