New Delhi: From April through June, the domestic manufacturing of mobile phones gains momentum and witnesses a 250 percent growth in the exports of mobile phones.
And compared to the last fiscal, the ICEA Chairman noted that there is a sharp decline in Cellular and Electronics imports due to increasing manufacturing domestically.
Mobile phone exports for the first quarter of 2021-22 were valued at Rs 4,600 crore compared to Rs 1,300 crore in 2020-21.
The massive year-on-year growth in exports can also be attributed to the impact of the first wave of Covid-19 and the nationwide lockdown during the corresponding period last year.
Pankaj Mohindroo, Chairman, ICEA said, that the mobile handset manufacturing industry is continuing its growth juggernaut and its historic journey to meet its objective of becoming the world’s number one manufacturing destination in sync with the Prime Minister’s vision.
Despite the second wave of Covid-19 pandemic, Mohindroo said, the prudent policy of Gol to continue the manufacturing and backed by the production-linked incentive (PLI) scheme, the industry has made significant progress in manufacturing and exports.
Electronic goods export has also shown a tremendous rise of 100 percent (YoY) in Q1 2021-22 crossing the mark of Rs 20,000 crore, he said.
The imports of mobile phones to a minuscule recorded Rs 600 crore during the first quarter of 2021 22 which was Rs 3,100 crore for the same period in 2020-21.
The industries in India are showing impressive growth defying all the odds during these difficult times of Covid-19 and is on a path of regaining the momentum as envisaged in NPE 2019,” said ICEA Chairman, Mohindroo.
Imports in the laptops and tablet category have shown more than 50 percent increase in the first quarter, from over Rs 6,000 crore in 2020-21 to Rs 10,000 crore in 2021-22.
Further ICEA Chairman shared their target endeavor is to replicate the success of mobile phone manufacturing in India to IT Hardware (Desktops, Laptops, and Tablets), and are working with the government to create suitable policy intervention to support and create an Ecosystem to build large-scale manufacturing of these products in India and cater to at least 25 percent of the global requirement.