Mobile phone production increased 5 times in 7 years, read full news

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Mobile Phone Production in India: In the last seven years, the production of mobile phones in the country has increased five times. Exports of electronics goods grew at a rate of 55.1 per cent year-on-year and came in the top five commodity groups. This information was given in the economic review presented in the Parliament. According to the review, production-linked incentive (PLI) schemes allow domestic companies to gain ‘savings’ from large scale work in terms of manufacturing facilities.

Improvement in manufacturing and exports over the last five years ensures that the country is on the right track to achieve this target, said the Economic Survey. Electronic goods were among the top five commodity groups showing positive export growth in November, 2022. Exports in this category grew by 55.1 percent annually.

According to the Economic Survey, the electronics industry – led by mobile phones, consumer electronics and industrial electronics – topped the commodity groups. It states, India has become the second largest mobile phone manufacturer globally in the mobile phone segment. Mobile production increased from six crore units in the financial year 2014-15 to 31 crore units in the financial year 2021-22. Domestic and global companies are increasing their presence in India, which is expected to improve further.

The review states, participation in the PLI scheme will help many other domestic companies to get a level playing field from localization. This will further enhance export competitiveness, thereby increasing India’s participation in the global value chain. The PLI scheme has attracted an investment of Rs 4,784 crore for large scale electronics manufacturing.

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