The latest data released by Counterpoint Research shows that the "Made in India" plan has helped India's total mobile phone production exceed 2 billion units. Research shows that driven by the "Made in India" plan, the cumulative shipments of "Made in India" mobile phones from 2014 to 2022 exceeded 2 billion units, with a compound annual growth rate of 23%.
It is reported that huge domestic demand, increasing digital literacy and government incentives are the main reasons for this growth.
As a result, India has become the second largest mobile phone producer in the world. The Indian government has come up with several schemes and initiatives such as Phased Manufacturing Scheme, Make in India, Production Linked Incentives and Atma-Nirbhar Bharat (Self-reliant India) to increase local manufacturing and value addition.
Tarun Pathak, research director at Counterpoint, said: "India has made great progress in mobile phone manufacturing. Over the years, we have seen local manufacturing growing to meet domestic demand.
In 2022, more than 98% of India's overall mobile phone market shipments will be "Made in India". When the current government came to power in 2014, locally manufactured mobile phones in India accounted for only 19% of the market. "
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