Make in India: Shares of India-made smartphones jumps to 24.8% in June Quarter

News:

• Government’s ‘Make in India‘ initiative seems to have giving good results as 24.8% of the smartphones shipped in the country during the June quarter were made locally compared with 19.9% in preceding quarter.
• According to the research firm CyberMedia Research, a total of 56.6 million handsets were shipped during the June quarter, of which smartphones comprised 43% (24.8 million units) of the volume
• Government has been pushing for promoting manufacturing in the country, especially electronics.
• A significant volume of mobile handsets sold in India are manufactured in China and Taiwan and estimates suggest that given the strong growth seen in the Indian market, import bills for electronics could be higher than that of crude oil by 2020.
• The contribution of Chinese brands grew 97% year-on-year (YoY) during the June quarter as against 48% for Indian brands within the smartphone segment.
• Although domestic manufacturing of mobile phones has increased, the government must introduce minimum value addition norms for mobile handsets as a threshold for qualifying to be labelled as ‘Made in India’.

Source: TOI