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India’s Mobile import dependency at 2014 levels could have incurred Rs 14.3 lakh crore cost – India TV

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Image Source : PIXABAY India’s 2014 mobile import dependency would have incurred a cost of Rs 14.3 lakh crore

India the the fifth largest export nation for mobile phones as an individual commodity, which would have faced a hefty import bill of more than Rs 14.3 lakh crore, had it not achieved self-sufficiency in the last 10 years.

Since 2014, the cumulative exports of mobile phones have reached a total estimate of Rs 3,22,048 crore, according to the India Cellular and Electronics Association (ICEA).

“In absence of such self-sufficiency, and if India had remained import dependent to the levels it was in 2014, the import bill on account of mobile phone imports alone during the 10-year period would have been Rs 14,34,045 crore,” the ICEA revealed in its latest data.

The remarkable surge in production, exports, and self-sufficiency has been facilitated by a favourable policy environment and strong collaboration between industry stakeholders and key government ministries. Moving forward, our focus is on transitioning electronics global value chains (GVCs) to India, aiming to generate substantial manufacturing employment opportunities and boost domestic value addition, stated the ICEA.

“This, in turn, requires unprecedented competitiveness and factories that can operate at scale of the kind that has never been witnessed in India,” it added.

ALSO READ Realme 12 Pro Plus Review: Premium phone with strong camera capabilities

Inputs from IANS




smartphone, tech news. icea
Image Source : PIXABAY India’s 2014 mobile import dependency would have incurred a cost of Rs 14.3 lakh crore

India the the fifth largest export nation for mobile phones as an individual commodity, which would have faced a hefty import bill of more than Rs 14.3 lakh crore, had it not achieved self-sufficiency in the last 10 years.

Since 2014, the cumulative exports of mobile phones have reached a total estimate of Rs 3,22,048 crore, according to the India Cellular and Electronics Association (ICEA).

“In absence of such self-sufficiency, and if India had remained import dependent to the levels it was in 2014, the import bill on account of mobile phone imports alone during the 10-year period would have been Rs 14,34,045 crore,” the ICEA revealed in its latest data.

The remarkable surge in production, exports, and self-sufficiency has been facilitated by a favourable policy environment and strong collaboration between industry stakeholders and key government ministries. Moving forward, our focus is on transitioning electronics global value chains (GVCs) to India, aiming to generate substantial manufacturing employment opportunities and boost domestic value addition, stated the ICEA.

“This, in turn, requires unprecedented competitiveness and factories that can operate at scale of the kind that has never been witnessed in India,” it added.

ALSO READ Realme 12 Pro Plus Review: Premium phone with strong camera capabilities

Inputs from IANS

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