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India is Now World's Second Largest Mobile Phone Maker
India is Now World's Second Largest Mobile Phone Maker
Sputnik India
India has emerged as the second-largest producer of cell phones after China, according to Counterpoint Research, a global technology market research organization closely monitoring the production of electronic products.
2023-08-15T18:19+0530
2023-08-15T18:19+0530
2023-08-15T20:22+0530
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India has emerged as the second-largest producer of cell phones after China, according to Counterpoint Research, a global technology market research organization closely monitoring the production of electronic products.As per the data shared by the research firm, overall shipments of handsets manufactured in the South Asian nation between 2014 and 2022 broke the two billion mark.Additionally, it mentioned that India is set to produce 270 mobile phones in 2023, up by 20 million in comparison with the previous year when domestic production touched 250 million handsets.What Makes India a Mobile Manufacturing Hub?The significant rise in the production of mobile handsets in India can be due to multiple factors, such as:Here we are talking about India's Production Linked Incentive (PLI) scheme, under which authorities provide 4 to 6 percent financial incentives to companies based on annual sales.
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India is Now World's Second Largest Mobile Phone Maker
18:19 15.08.2023 (Updated: 20:22 15.08.2023) The Indian government has offered incentives to producers of electronic items, including mobile phones to make India a manufacturing hub of such products.
India has emerged as the second-largest producer of cell phones after China, according to Counterpoint Research, a global technology market research organization closely monitoring the production of electronic products.
As per the data shared by the research firm,
overall shipments of handsets manufactured in the South Asian nation between 2014 and 2022 broke the two billion mark.
Additionally, it mentioned that India is set to produce 270 mobile phones in 2023, up by 20 million in comparison with the previous year when domestic production touched 250 million handsets.
What Makes India a Mobile Manufacturing Hub?
The significant rise in the production of mobile handsets in India can be due to multiple factors, such as:
an uptick in digital education,
government incentives to manufacturers, and
growing demand for phones in the country.
However, government support for producers of such equipment is perhaps the prime reason behind this growth in numbers.
Here we are talking about India's Production Linked Incentive (PLI) scheme, under which authorities provide 4 to 6 percent financial incentives to companies based on annual sales.
