India has made significant progress in mobile and electronics manufacturing to become 2nd largest mobile manufacturing country

Ministry of Electronics & IT noted in a latest update that India has made significant progress in mobile and electronics manufacturing and become the worlds 2nd largest mobile manufacturing country. In 2014, India had only 2 mobile manufacturing units but fast forward to today, the nation boasts over 300 manufacturing units, underscoring a significant expansion in this vital sector. In 2014 -15 only 26% of the mobile phones which were being sold in India were made in India, the rest were being imported. It is worth mentioning that today, 99.2% of all mobile phones which are sold in India are made in India. The manufacturing value of mobile phones has surged from Rs 18,900 crore in FY14 to a staggering Rs 4,22,000 crore in FY24.

Powered by Capital Market - Live News