India is planning to manufacture mobile phones worth Rs 94,000 crores in FY2016-17 says Ravi Shankar Prasad, union minister for Electronics & Information Technology and Law & Justice at the launch of LeEco smartphone manufacturing facility.
It is expected that in FY2016-17, India will manufacture mobile phones worth Rs 94,000 crores as demand of mobile phones is expect to increase from 265 million in FY FY2015-16 to 280 million in FY2016-17. Smartphone will contribute 130 million whereas feature phone will contribute 150 million.
India has manufactured 110 million mobile handsets in FY2015-16 worth Rs 54,000 crores as per DeitY (department of electronics & IT), government of India report. Feature phone contributed 60 million and was worth Rs 5,000 crores whereas smartphone contributed 50 million and was worth Rs 49,000 crores. In rupee terms, mobile manufacturing in India grew by 184 per cent in FY2015-16 vis-a-vis FY2014-15.
Ravi Shankar Prasad said, “As the market size for electronics is expected to grow to $400 billion by 2020, it is imperative to promote indigenous manufacturing.”
Till date, India has set up around 38 mobile manufacturing unit in the last two years. LeEco is the 38th facility in the country and its manufacturing unit is based at Greater Noida in Uttar Pradesh.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
