According to the data by Indian Cellular Association (ICA), the overall value of handsets manufactured in India increased by 186% in FY16 to Rs 540 billion. ICA has projected mobile phone production to grow by 74% and reach Rs 940 billion in FY17.
Even in volume terms, India witnessed significant improvement.India produced 60 million mobile phones in FY 15 which grew by 83% 110 millions in FY16 which is 50% of the total 220 million mobile phones estimated to have been sold in India last fiscal.
In last one year 38 electronics manufacturing plants were set up in India and 25 mobile phone manufacturers have already started production in India. It is estimated that India’s mobile manufacturing units would produce around 220 million phones by FY 17.
But still a long way to go for India, as most of these manufacturing units only act as assembly lines since a major part of the components that go into making a handset are not available in India.