Indian mobile manufacturing industry is expected to touch Rs 132,000 crore by the end of 2018, Electronics and IT Minister Ravi Shankar Prasad said on Thursday.
India manufactured about 110 million mobile phones in 2015-16 as compared to 60 million in 2014-15, a growth of over 90 percent. In value terms, India's mobile manufacturing industry produced mobile phones worth Rs 54,000 crore in FY15-16, compared to Rs 18,900 crore in FY14-15. This touched Rs 94,000 crore by the end of 2017, the minister said.
He was speaking at an event organised by MeitY, ASSOCHAM and Ericsson.
In terms of volume, in 2014 India produced 5 crore mobile phone made locally in India, which reached 15 crore in 2015-16.
In 2017 the Indian mobile manufacturing industry produced 22 million mobile phones. "The industry would produce 50 million mobile phones by 2020," said the minister.
In terms of electronics manufacturing units, the minister said that within three years, the industry added 120 such units. Two-third of these were mobile manufacturing units and there were 54 such units in Noida alone. These industries employ 5 lakh people, he added