So far, the country is inferior to China
Many companies, including Apple, Samsung, Oppo, Nothing and Xiaomi, offer smartphones launched in India to customers. A Counterpoint Research report says that the cumulative circulation of smartphones made in India has exceeded 2 billion units. The compound annual growth rate was 23%.
India has become the second largest producer of mobile phones. The Government of India has implemented various schemes and initiatives to increase local production and value added
The country has already produced more than 2 billion smartphones
Tarun Pathak, Director of Research at Counterpoint, said: “India has come a long way in mobile phone manufacturing. We have seen an increase in local production over the years to meet domestic demand. In 2022, more than 98% of shipments in the Indian market were locally produced smartphones compared to 19% when the current government took over in 2014.”
India is also seeing an increase in local value added and supply chain development in the country. Local value added in India now averages over 15%, down from a low single digit eight years ago, Pathak said.
Exports, according to Singh, also increased because of all this: “Going forward, the government is focused on turning India into a world center for semiconductor manufacturing. There is now more focus on infrastructure with an estimated investment of $1.4 trillion.”
