Sunday, February 28, 2021
Home News Reports 'Made in India' mobile phones helps India save 3 lakh crores in 4 years

‘Made in India’ mobile phones helps India save 3 lakh crores in 4 years

Driven by the Government’s ‘Make in India’ initiative, the mobile handset manufacturing eco-system in India has helped the country save over Rs 3 lakh crore by substituting imports of completely-built units (CBU) with locally manufactured and assembled handsets and has helped in creating over 450000 jobs during the past four years.

According to reports at least 120 mobile and its components manufacturing units have flourished in different parts of the country in the last. India Cellular and Electronics Association (ICEA) confirmed that over 225 million handsets were manufactured in the year 2017-18, which is almost 80 percent of the total market requirement of the country.

As per ICEA estimates, the collective value of mobile phone manufactured in India in the current financial year, 2018-19, will reach Rs 1,65,000 crore and the expected turnover of units stand at 290 million handsets in the same year.

ICEA chairman & national president, Pankaj Mohindroo, has been quoted as saying that, “Most global handset brands and manufacturers are eyeing India, which is the world’s fastest growing smartphone market, having overtaken the US last year to become the world’s second largest smartphone market after China.”

“Mobile phone imports will trickle down to insignificant levels of around five to seven percent of the market (less than Rs. 1000 crore/month) by the end of 2018 financial year,” Mohindroo said, adding that India is moving towards almost zero imports for mobile phones in the coming years.

As India moves into the fourth year of Modi governance, the country can proudly showcase several landmark policy initiatives, ‘make in India’ is one of them, that have lifted the mood of the nation which had witnessed ten years of policy paralysis under the Congress-led UPA.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Ram Mandir donation crosses the Rs 2,100 crore mark, exceeds estimated collection

Shri Ram Janmbhoomi Teerth Kshetra Trust had anticipated that it might receive around Rs 1,100 crore for building the Ram temple complex as it launched the crowdfunding campaign on January 15.

While Trinamool Congress projects Mamata Banerjee as ‘Bengal’s daughter’, goons assault the mother of a BJP supporter, give death threats

"My son is a BJP worker and so they assaulted him. They thrashed him mercilessly," the mother of the BJP leader recounted.

‘I’m Akhlaq you killed for one cow’: Islamic terror outfit Jaish-ul-Hind claims responsibility for placing bombs outside Mukesh Ambani’s residence

In the threat message that is addressed to the Ambanis, the Jaish-Ul-Hind terrorists said, "Next time the SUV will ram into your fat kids car you if don't agree to the demands now".

Congress ‘remembers’ Kamala Nehru on her ‘birth anniversary’ which is actually her death anniversary: The legacy of gaffes continues

However, after many pointed out, Congress quietly deleted the tweet and posted another one with correct information that today was Kamala Nehru's death anniversary.

Naushad, who was caught spitting while cooking tandoori rotis in viral wedding video, to be booked under NSA

Earlier this month, a video of Naushad who appears to be spitting on the tandoori rotis before putting them inside the tandoor for cooking, while at a wedding function, had gone viral.

Delhi Police arrests 2 men who were plotting to assassinate Kashmiri activist Sushil Pandit against payment

Sukhvinder Singh and Lakhan said they were paid Rs 10 lakh each by one Prince to kill Kashmiri activist Sushil Pandit

Recently Popular

Did Aamir Khan’s daughter Ira Khan elope with her Hindu servant? Here is the truth

The image that is being used to claim that Iran Khan has 'eloped with her Hindu servant' was originally shared by Nupur Shikare, her fitness trainer. The two were posing on the occasion of Diwali.

US President Joe Biden casually drops the N-word during Munich Security Conference, accused of racism on social media

The N-word is considered as one of the hateful words that were first uttered in the 17th century. Its origin can be traced back to the Spanish word 'negro', which is often used by white supremacists to deliberately offend the African-American community.

Father of Richa Bharti, the girl who had refused to distribute Quran to secure bail, shot dead in native Bihar village: Read details

The father of the daring Bihar girl Richa Bharti has been shot down by assailants in her native village of Nalanda district in Bihar.

“A contest between my ball and your ball”: Netizens in splits after comments of Harsha Bhogle go viral

Harsha Bhohgle said that a cricket contest should be between bat and ball, not between bat and bat or ball and ball

Spokesperson of Samajwadi Party resigns after workers abuse his wife for sharing anti-Akhilesh Facebook post: Details

Anil Yadav of Samajwadi Party has resigned from the party after his wife, Pankhuri Pathak, was abused by SP workers.

Father of 6, Mehtab Rana, abducts minor by shrouding her in Burqa, had abducted the girl twice in 2018, role of in-laws, family suspected

Kidnapping of a 17-year-old girl in Agra, where accused made her wear a 'burqa', has sent shockwaves and resulted in outrage
- Advertisement -

 

Connect with us

253,132FansLike
520,812FollowersFollow
23,800SubscribersSubscribe