India is now second-largest mobile phone producer in world

India is now the second-largest mobile phone producer in the world after China, as per information shared by Indian Cellular Association (ICA) with the Government of India (GoI). ICA referred to data available from market research firm IHS, China’s National Bureau of Statistics and Vietnam General Statistics Office. According to the data shared by ICA, annual production of mobile phones in India increased from 3 million units in 2014 to 11 million units in 2017. With this, India replaced Vietnam to become the second largest producer of mobile phones in 2017. With the rise in mobile phone production, imports of the devices in the country also reduced to less than half in 2017-18. The Fast Track Task Force (FTTF), a body under the ministry of electronics and IT, has set a target to achieve around 500 million mobile phone production in India by 2019, with value estimated to be around $46 billion.

Month: Current Affairs - April, 2018