India has replaced Vietnam to become the second-largest producer of mobile phones in the world, only after China.
The data was shared by the Indian Cellular Association (ICA) with Union Telecom Minister Manoj Sinha and IT Minister Ravi Shankar Prasad. As per the information, the annual production of mobile phones in India increased from 3 million units in 2014 to 11 million units in 2017.
• According to data shared by ICA, India accounted for 11 per cent of global mobile production in 2017 compared to 3 per cent in 2014.
• India replaced Vietnam to become the second largest producer of mobile phones in 2017. The top three mobile producing countries are China, India and Vietnam.
• With the rise in mobile phone production, imports of the devices in the country also reduced to less than half in 2017-18.
• The government has established a Fast Track Task Force (FTTF) under Ministry of Electronics and IT, which has set the target to achieve around 500 million mobile phone production in India by 2019, with an estimated value of USD 46 billion.
• The FTTF, which has members from industry and government, has set the target to create USD 8 billion component manufacturing as result of growth in mobile phone production and create 1.5 million direct and indirect jobs by 2019.
• The body has also set the target to export 120 million mobile phone units with an estimated value of USD 1.5 million by the end of 2019.
Video: Check out the latest current affairs of this week
According to a data research firm Counterpoint, India witnessed a significant sales growth of over 74 per cent in 2017 in comparison to 70 per cent in 2016, of mobile phones manufactured in the country. The number was just 19 per cent during the financial year 2014.
Several global mobile phone companies have already opened their manufacturing units in India and more companies are expected to follow suit.