India has overtaken China as the world’s second-largest manufacturer of mobile phones. A few variations have already been produced by Samsung, Realme, Oppo, and Xiaomi, among others, with many more on the way. Over 200 units now produce cellular phones, up from only 2 units in 2014.
The Ministry of Electronics and Information Technology has released the 2nd Volume of the Vision Document on Electronics Manufacturing. This report provides a year-wise break-up and production projections for the various products that will lead to India’s transformation into a USD300 billion electronics manufacturing powerhouse, from the current USD75 billion. The key products that are expected to drive India’s growth in electronics manufacturing include mobile phones, IT hardware (laptops, tablets), consumer electronics (TV and audio), and industrial electronics.
India’s Ministry of Electronics and IT has announced a five-part strategy to reach the USD 300 billion goals for electronics manufacturing by 2026. This will be done by building competitiveness and scale by attracting global electronics manufacturers and brands, shifting and developing sub-assemblies and component ecosystems, nurturing Indian champions, and steadily removing the cost disabilities faced by India. The domestic market is expected to increase from USD65 billion to USD180 billion over the next 5 years.