New Delhi, Jagran Bureau. By 2025, India’s mobile phone export business could be worth $ 100 billion. To achieve this goal, a report was submitted to the Ministry of Electronics and IT on Thursday by the Indian Cellular and Electronics Association (ICEA) and Ernst & Young (E&Y). According to the report, currently, more than 80 percent of the global market for mobile exports is held by China, Vietnam and five world-leading companies. These companies include Apple, Samsung, Huawei, Oppo and Vivo. In 2019, China’s mobile phone exports stood at $ 224 billion while Vietnam’s at $ 63 billion. India’s mobile phone exports stood at $ 3 billion in FY 2019-20.
The report said that 198 countries in the world import mobile phones and only two countries, China and Vietnam, are mainly mobile phone suppliers. In such a situation, there is a huge opportunity for India in the mobile phone market, which can be redeemed with the help of the recently announced Production Linked Incentive (PLI) announced by the government. The report said that India has not touched the mobile phone market of developed countries of America, Europe, Asia and Middle East.
According to the report, India has a sufficient number of skilled workers. Global companies making mobile phones have their presence and multinationals have distribution networks. Apart from this, India can also get the benefit of creating a global atmosphere against China. The report also mentioned that India did not succeed in taking advantage of the trade war between the US and China, and in this case Vietnam won.
According to ICEA, the impact of the government-initiated PSI scheme for mobile phone manufacturing will begin to be seen by the end of the current financial year. Five international champion companies will be selected to benefit from the PLI scheme. Five domestic companies are targeted to be the champions of mobile phone manufacturing.
