Tag: made in india

India Second Largest Phone Maker With 2 Billion ‘Made in India’ Shipments Between 2014 and 2022: Counterpoint

India’s mobile phone manufacturing industry reportedly produced over 2 billion mobile phones cumulatively between 2014 and 2022, making it the second-largest mobile manufacturing country in the world. This growth can likely be attributed to a number of factors, including the government’s Make in India initiative, which has provided incentives for local manufacturing, and the increasing demand for mobile phones in India. 

According to a report by Counterpoint Research, between 2014 and 2022, India’s mobile phone production grew at a Compound Annual Growth Rate (CAGR) of 23 percent. ‘Made in India’ mobile phone shipments crossed 2 billion cumulative units over this period of time. In 2014, only 19 percent of domestic shipments were locally made, as compared to the 98 percent registered in 2022, the report said.

Increasing internal demands, followed by increasing digital literacy and government incentives to manufacturers are reportedly the major reasons for this growth. The report adds that initiatives like the Phased Manufacturing Program (PMP), Make in India, Production Linked Incentive (PLI), and Atma-Nirbhar Bharat (Self-Reliant India) contributed to increasing local mobile phone manufacturing with perceivable results.

Counterpoint’s Research Director Tarun Pathak said that local value addition now stands at more than 15 percent, compared to the single digits in 2014. This has reportedly led to growing investments, increasing jobs, and overall ecosystem development.

Pathak added that the government intends to capitalise on this progress by aiming to make India a “semiconductor manufacturing and export hub.” He said that the country might see increasing semiconductor production, especially for smartphones, as India is attempting to bridge the urban-rural digital divide while also trying to become a mobile phone exporting powerhouse.

The report quoted Analyst Prachir Singh, who stated that the government is also focused on making India a semiconductor hub. It has proposed a semiconductor PLI scheme, which would provide financial incentives to companies that set up semiconductor manufacturing plants in India.

The government is reportedly also investing heavily in infrastructure with $1 trillion (roughly Rs. 83,21,600 crore) to further fuel these plans. These measures are expected to further boost mobile phone manufacturing in India and make it a global hub for semiconductor production.

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Vedanta Chairman Says Their $5 Billion Made-in-India Chip Will Be Ready in 2.5 Years

Vedanta group chairman Anil Agarwal on Friday said that the first phase of its semiconductor project will involve a $5 billion (roughly Rs. 41,300 crore) investment of the overall $20-billion (roughly Rs. 1,64,500 crore) outlay, and the venture will be ready with made-in-India chip in two and a half years.

Vedanta is talking to three companies to rope them in as technology partners for its mega plans entailing foundry, chip manufacturing, and packaging and design.

“In 2.5 years, we will give you Vedanta made-in-India chips,” Agarwal told reporters on the sidelines of the SemiconIndia 2023 event.

The first phase of its semiconductor investment will be to the tune of $5 billion (roughly Rs. 41,300 crore), which is being structured.

“Vendata has a good cash flow, we will make a capital allocation in Vedanta and there is a queue of people to give us equity and debt…but we want the tie-ups to be in place first, and have an ecosystem,” he said.

After parting ways with Foxconn on their semiconductor joint venture, Vedanta group has made it clear that it remains committed to building India’s first semiconductor and display fabs in Dholera Special Investment Region in Gujarat, and substantial progress has happened to tie up with technology and equity partners in semiconductors.

Both Foxconn and Vedanta have now decided to apply for Indian chip-making incentives separately.

Foxconn has said it is working on plans to apply for incentives under the semiconductor and display fab programme, as the contract manufacturer pledged its commitment to India.

The Taiwanese electronics manufacturing giant said it has been actively reviewing the landscape for optimal partners.

India is wooing semiconductor and display manufacturers with a $10-billion (roughly Rs. 82,300 crore) incentive scheme, making a determined push to position itself as a global powerhouse for chip making.

Sophisticated chips are part of everyday life, used in mobile phones, refrigerators and cars to high-tech industries, and so fostering local industry with carefully-crafted schemes and policy sweeteners will link India to an ever-growing global chip market.

As it is, the global semiconductor shortage has emphasised the importance of this critical component in modern-day electronics.

Samsung launched the Galaxy Z Fold 5 and Galaxy Z Flip 5 alongside the Galaxy Tab S9 series and Galaxy Watch 6 series at its first Galaxy Unpacked event in South Korea. We discuss the company’s new devices and more on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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