The India Cellular and Electronics Association report said the growth of mobile device manufacturing in the country has saved estimated outflow of approximately Rs 3 lakh crore in last 4 years.
“The mobile handset manufacturing nos in terms of value for 2018-19 is expected to touch Rs 1,65,000 crore and a volume turnover of 290 million during the same period. In the first two quarters itself, manufacturing is expected to cross Rs 75,000 crore and a volume of 130 million handsets,” the report said.
It said that India has become the world’s second largest mobile phone producerafter China.
“In 2017-18 over 225 mn handsets were assembled and manufactured in India, which was approximately 80 per cent of the total market requirements. The net foreign exchange savings is estimated to be over Rs 60,000 crore,” the report said.Around 78 per cent of the total domestic requirement of mobile phones in 2014-15 were met through imports.