India is the leading smartphone supplier to US: Ashwini Vaishnaw
What’s the story
India has become the top supplier of smartphones to the United States, Union Minister Ashwini Vaishnaw announced on Sunday.
The minister also revealed that India’s electronics manufacturing industry is now worth ₹12 lakh crore.
Speaking at the inauguration ceremony of Metro projects in Bengaluru, Vaishnaw emphasized that electronic production in India has grown six times over the last 11 years.
Electronic exports have seen an eightfold increase
Vaishnaw also highlighted the massive growth in electronic exports, which have seen an eightfold increase to ₹3 lakh crore.
He further emphasized India’s position as the world’s second-largest mobile phone manufacturer, highlighting the country’s growing importance in the global electronics market.
“Our electronic production has grown six times in the last 11 years,” he said at the event.
Over 300 mobile manufacturing units now
According to official government data, India has made remarkable strides in mobile and electronics manufacturing.
From just two mobile manufacturing units in 2014, the country now boasts over 300 such units.
This major growth is a testament to India’s commitment to becoming a global hub for technology production.
In fact, the manufacturing value of mobile phones has skyrocketed from ₹18,900 crore in FY14 to an impressive ₹4,22,000 crore in FY24.
Domestic production now exceeds imports
In another major milestone, domestic production has overtaken imports.
In 2014-15, only 26% of the mobile phones sold in India were made domestically.
Now, a whopping 99.2% of all mobile phones sold in the country are manufactured here.
This is a clear indication of India’s growing self-sufficiency and strength in the mobile manufacturing sector.
Source: www.newsbytesapp.com