India’s Mobile Manufacturing Sector Sees 21-Fold Growth, Reaching INR 4.10 Lakh Crore in FY24

Date:

November 18, 2024

India’s mobile manufacturing sector continues to show remarkable growth, driven by major tech giants and strategic government initiatives. In recent years, the industry has seen an extraordinary 21-fold increase in production, reaching an estimated INR 4.10 lakh crore in FY24, compared to just INR 18,900 crore in 2014-15. This growth has been spurred by the Phased Manufacturing Program (PMP) introduced in 2017 and the subsequent Production Linked Incentive (PLI) scheme. These policies have successfully attracted international players like Apple, Samsung, and Foxconn, significantly boosting local production and exports.

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