India’s mobile manufacturing industry will touch Rs 1,32,000 crores by the end of 2018, said Union Minister Ravi Shankar Prasad. The Minister of Electronics and Information Technology made this statement at the MeitY – ASSOCHAM–Ericsson Joint ICT Start-Ups Awards–2018 which was held in Delhi this week.
At the Assocham event, Prasad noted that the Indian smartphone business had helped manufacture close to 110 million mobile phones in the financial year 2015-16. This means that the mobile manufacturing industry grew over its 60 million mobile phone mark, set in 2014-15. The minister also said that in terms of value, the mobile phones manufactured in FY 2015-16 were worth Rs 54,000 crore, up from the Rs 18,900 crore value set by production in FY 2014-15. He also added that this figure reached Rs 94,000 crore by the end of 2017.
According to the minister, the industry produced 5 crore mobile phones locally during 2014, which grew to 15 million phones by FY 2015-16. Stating that domestic production had reached the 22 million mobile phone mark in 2017, Prasad said, “The industry would produce 50 million mobile phones by 2020.” The Electronic and IT minister also said that 120 electronics manufacturing units had been added by 2017. Of these, he stated that two-third of them, or 80 units, are dedicated to mobile phone production, with 54 of these units being present in Noida. Prasad also added that electronics manufacturing units gave jobs to more than 5 lakh people.
Among other achievements, the Union Minister also said that India is home to the world’s third largest start-up community, following the US and England. Prasad said that the ministry was aiming to make the digital sector a $1 trillion economy within five years, with the potential to create between 50 and 70 lakh new jobs.