A recent report by India Cellular & Electronics Association (ICEA) says that, India has a potential to become electronics manufacturing hub and also can become a $100 billion global manufacturing and export hub for printed circuit board assembly (PCBA) by 2026.
Mobile selling is huge in India and it automatically grows sales of electronic equipments, which directly impact the electronic industry. You will be amazed to know that after oil, mobile is the second most selling equipment in the world and gold comes on number three.
Our electronics and information technology (IT) minister Ravi Shankar Prasad has recently emphasized the value of electronic gadgets. He says, domestic manufacturing of electronic gadgets, including mobile phones and components, televisions, and laptops, is expected to contribute one-fifth to India’s economy by 2025.
After seeing the success of a scheme to locally produce mobile phones and their components, the government is planning to extend its PLI scheme. In order to make India the top manufacturing destination for electronic devices in the world, Prasad has planned to manufacture one billion mobile phones, 50 million televisions and 50 million hardware devices such as laptops and tablets by 2025
Sixteen global and domestic mobile and electronic component makers including Samsung, Foxconn and Bhagwati Products—the maker of Micromax phones—will benfit from the Centre’s PLI scheme.
The other eligible international phone makers are Rising Star, Wistron and Pegatron. Except for Samsung, other foreign companies are contract manufacturers for Apple Inc. Samsung and Apple together account for nearly 60% of global revenue for mobiles.
The pandemic has showcased the value of local manufacturing, which proved that India has tremendous dependency on imported goods. After China and India tentions, Indian government is enthusiastically focusing on local goods and they want to make India Self Reliant Country.