Thanks to the government's production-linked incentive scheme and a made-in-India push, India is now the second largest mobile manufacturer in the world, behind only China. Government data shows, India saw a 126% jump in production from financial year 2021 to 2022. According to market research firm Counterpoint Research’s "Made in India" service report, the growth spurt has been by huge internal demand, increasing digital literacy and the government's push.
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#MakeInIndia #IndependenceDay #IndependenceDay2023 #77thIndependenceDay
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NewsTranscript
00:00 Thanks to the government's production link incentive scheme and a Made in India push,
00:07 India is now the second largest mobile manufacturer in the world, behind only China.
00:13 Government data shows India saw a 126% jump in production from financial year 2021 to
00:20 2022.
00:21 According to market research firm Counterpoint Research's Made in India service report,
00:26 the growth spurt has been by huge internal demand, increasing digital literacy and the
00:31 government's push.
00:33 More than 2 billion phones were manufactured in India under the Make in India initiative
00:37 during 2014-22.
00:40 This means India saw a 23% compound annual growth rate for mobile phones.
00:45 According to the Counterpoint report, in 2022, more than 98% of shipments in the overall
00:50 Indian market were made in India compared to just 19% in 2014.
00:55 In an attempt to boost local manufacturing, the government has introduced initiatives
00:59 like the phased manufacturing programme, Make in India, a production linked incentive and
01:03 the Atmanirbhar Bharat schemes.
01:05 Since 2014, many companies have set up manufacturing units in India.
01:11 These are not just make complete mobile phones but also manufacture components.
01:15 This has led to a significant growth in investments, jobs and overall ecosystem development.
01:20 Going forward, production of smartphones is expected to grow as India bridges the urban
01:24 rural digital divide.
01:26 In time, India is also expected to become a major exporter of mobile phones.
01:31 Mobile phone exports in 2015-16 were near zero, but exports surpassed the $5 billion
01:37 mark within seven months of financial year 2023 and are expected to be worth $9 billion
01:43 in the same financial year.
01:45 Leading economies like the UK, Netherlands, Austria, Italy, South Africa and other countries
01:49 are also using Made in India mobiles.
01:52 In the early 1900s and 2000s, China dominated the Asian manufacturing landscape, followed
01:57 by Korea.
01:58 To join the race, India had to take significant steps like policy interventions and a mindset
02:03 shift to develop a robust economy.
02:06 From distributing, India moved towards creation.
02:09 From assembling mobiles to manufacturing the iPhone 14, India has come a long way.
02:14 There was a time when 80% of mobile phones were imported from China.
02:17 Today, 99.9% of phones are actually manufactured in India.
02:22 Since 2021, over 200 manufacturing units have been set up in India.
02:27 Samsung opened the world's largest phone manufacturing unit in India, and leading global giants like
02:32 Apple have shifted major units to the country.
02:35 Companies like Oppo, Vivo, Xiaomi and Lava have also established bases in the country.
02:41 The government projects the annual mobile manufacturing to be $126 billion by 2025-26.
02:47 India's strong internal demand and the government's long-term plans are attracting FDI and interest
02:52 from other countries and are expected to boost India's digital revolution.
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