The electronics manufacturing industry has met the targets it set a decade ago and has become the second largest manufacturer of mobile phones in the world, producing devices worth Rs4.1 lakh crore, an industry body said.
According to a statement made by an industry association, the electronics manufacturing industry has achieved the goals it established ten years ago and has become the second largest maker of mobile phones in the world, producing gadgets with a total value of Rs4.1 lakh crore.
According to estimates provided by the India Cellular and Electronics Association (ICEA), which is comprised of the leading smartphone brands and manufacturers, the sector concluded the decade with the production of 2.45 billion units of mobile phones, which had a value of Rs4.1 lakh crore in FY24. This figure is significantly more than the Rs18,900 crore that was created in the previous decade. The association stated that the electronics sector had set a goal of Rs20 lakh crore over the course of the ten-year period, and that it has accomplished a cumulative production of Rs19.45 lakh crore. The cumulative exports of mobile phones reached an estimated Rs3.22 lakh crore during the course of the ten-year period, which places mobile phones as the fifth most important item that India exports. During the current fiscal year, thirty percent of the final product will be destined for export.
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