India Achieves Milestone with 2 Billion ‘Made in India’ Mobile Shipments: Between 2014 and 2022, Made-in-India mobile shipments in India surpassed the 2 billion unit mark. According to the most recent report by Counterpoint Research, India has become the second largest producer of mobile phones worldwide. According to the report, digital literacy, massive market demand, and the government’s push for the Make-in-India initiative are the primary causes for the growth.
Notably, the country’s mobile phone production increased at a CAGR of 23% between 2014 and 2023. Let’s examine all the information contained in the Counterpoint report titled “India Mobile Phone Cumulative Production Exceeds 2 Billion Units Under ‘Make in India’ Initiative”
India Achieves Milestone with 2 Billion ‘Made in India’ Mobile Shipments
According to research conducted by Counterpoint, cumulative dispatches of mobile phones manufactured in India surpassed 2 billion units between 2014 and 2022, registering a CAGR of 23%. In 2022, 98% of domestic mobile shipments were made domestically, compared to only 19% in 2014. According to the report, this growth can be attributed to the Indian government’s numerous programmes and initiatives.
These include the Phased Manufacturing Programme (PMP), Make in India, the Production Linked Incentive (PLI), and Atma-Nibhar Bharat (Self-Reliant India). With these initiatives, the Indian government is attempting to increase local manufacturing and value addition, and the results are evident.
Tarun Pathak, research director at Counterpoint, stated that the average local value addition in India now exceeds 15%, whereas it was in single digits eight years ago. Pathak also disclosed to TechCrunch that approximately 200 mobile device manufacturers currently assemble their products in India. This figure was just two prior to 2014. India produces 1.80 times as many mobile phones as Vietnam and only a quarter as many as China. China, India, and Vietnam are the largest producers of mobile phones in the globe, in that order.
India is also preparing to become an exporting juggernaut for mobile devices in the near future. Senior Analyst Prachir Singh is quoted in the most recent Counterpoint report as saying that the government bolstered local manufacturing and value addition by increasing import duties on components and completely built units (CBU) and implementing the Phased Manufacturing Programme.
It also announced the Production Linked Incentive (PLI) scheme for fourteen industries, including the manufacturing of mobile phones. These factors have all contributed to the expansion of Indian exports. With a proposed investment of $1.4 trillion, the government has proposed a PLI scheme for semiconductors aimed at making India a semiconductor centre.