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Value of mobile component manufacturing to exceed Rs 700 billion in 2018-19, says ICEA

January 18, 2019
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India Cellular and Electronics Association (ICEA), the industry body for mobile handsets and electronics has said that the value of mobile component manufacturing under the Mobile Phased Manufacturing Programme (PMP) has already exceeded the 2019-20 target of Rs 500 billion.

According to the ICEA, the industry is expected to cross Rs 700 billion during 2018-19. As per the targets set by the Mobile PMP for 2020, 500 million phones needed to be manufactured. As of date, approximately 290 million phones have already been manufactured.

As per the ICEA, the minimum value to be achieved was Rs 1.5 trillion and approximately Rs 1.65 trillion of the set value has already been achieved. Further, in terms of job creation, the critical target has been set at the generation of 1.5 million new jobs, out of which around 670,000 people have been employed since the inception of the PMP.

The ICEA also held that the industry will now focus on establishing die-cut parts, mechanics, camera modules, and connectors, which have not taken off as expected rather than adding more components.

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