Table of Contents
India Second largest mobile Manufacturer: History of Asian Manufacturing in the 1900s and 2000s
India Second largest mobile Manufacturer: China in the early 1900s and 2000s was dominating the Asian manufacturing terrane. China was leading the global export market in every area, such as mobiles, machine components, clothes, accessories, and integrated circuits. It was observed, In 2020, China’s export market was approx $249,203 million, while Korea was giving tight competition with $172,267 million. The export bills of India were $44,560 million lagging behind the leading countries. To take a step ahead it was high time for India to take bold steps.
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India Second largest mobile Manufacturer: Factors of India’s competitive journey
India’s journey to becoming the second-largest mobile phone manufacturer has been fueled by a combination of factors that have contributed to its remarkable growth in the industry. Here are some key factors that have played a significant role:
- Government initiatives: The Indian government launched several initiatives to promote domestic manufacturing, such as the “Make in India” campaign. This initiative aimed to attract foreign direct investment and promote local manufacturing across various sectors, including electronics.
- Favorable investment climate: India’s improved business environment, including eased regulations and policies, has attracted investment from both domestic and international players. The government implemented measures to simplify processes for setting up manufacturing units and offered incentives like tax benefits and subsidies.
- Rising domestic demand: India has experienced a significant increase in mobile phone usage and a surge in demand for smartphones. With over 1.3 billion people, India represents a massive consumer market, making it an attractive destination for manufacturers.
- Abundant labor force: India possesses a large and relatively low-cost labor force, which has been instrumental in attracting manufacturers. The availability of skilled and semi-skilled workers has helped drive production capacity and cost efficiency.
- Localization and supply chain ecosystem: Mobile phone manufacturers have established local production facilities and developed a robust supply chain ecosystem in India. This localization has reduced production costs, minimized import dependence, and enabled faster turnaround times.
- Strategic partnerships: Many global mobile phone companies have partnered with Indian manufacturers or set up their production units in the country. Collaborations between international and Indian companies have facilitated technology transfer, knowledge sharing, and capital investments.
- Export opportunities: India’s mobile phone manufacturing industry has also expanded its reach beyond domestic demand by exploring export opportunities. The “Make in India” initiative aimed to position India as a global manufacturing hub, making it more competitive in the international market.
These factors, combined with the government’s and industry stakeholders’ continuous efforts, have propelled India’s mobile phone manufacturing sector to become the second largest globally. As the industry continues to evolve and technological advancements unfold, India’s position is expected to strengthen further.
The Path Forward
India has a bold endeavor to follow by 2025-26 to scale the annual mobile manufacturing to $126 billion. According to reports, PLI has permitted the production of over Rs. 9,00,000 crore may be more in the future. The government’s anti-fragile policies, which include gradual adaptation and a bar-bell strategy, will help the mobile manufacturing sector advance.
India continues to be a relative “bright spot” in the global economy, and it will alone account for 15% of global growth in 2023, according to IMF MD Kristalina Georgieva. Strong domestic demand in India and the government’s forward-thinking, long-term plans are luring foreign direct investment (FDI) and attention from other nations; India is fast becoming the world’s top travel destination and a “bouquet of hope.” A key component of India’s digital revolution is transforming every Indian’s life, and sweeping the globe is the country’s booming mobile manufacturing.
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