India’s mobile handset manufacturing for 2020-21 will equal the previous year’s production level, industry body India Cellular and Electronics Association (ICEA) said.
Mobile phone production in India touched Rs 2.14 lakh crore in 2019-20 as compared with Rs 1.8 lakh crore production in 2018-19, ICEA said. The manufacturing of mobile phone in India is projected to hit Rs 4.85 lakh crore in 2022.
“Our domestic market vis-a-vis domestic manufacturing is saturated and we have set our sights on a target of Rs 7.7 lakh crore of exports by 2025. The burgeoning domestic market is expected to touch Rs 5.6 lakh crore by 2025,” ICEA Chairman Pankaj Mohindroo said in a statement.
“We are looking at a quantum jump in current domestic manufacturing from Rs 2.2 lakh crore in 2020 to Rs 13.02 lakh crore by 2025.”
Covid-19 restrictions hit the manufacturing industry in the country, including the mobile handset production, especially during the lockdown period.
Export of electronic goods has nearly doubled in last three years from $6 billion in 2017-18 to $11.21 billion in 2019-20. Mobile phone contribution in this has increased from 3.5 percent in 2017-18 to 34 percent in 2019-20.