Counterpoint Research: India's cumulative mobile phone shipments exceeded 2 billion units, making it the world's second largest mobile phone producer

The latest data released by Counterpoint Research shows that the "Make in India" plan has helped India's total mobile phone production exceed 2 billion units. Research shows that driven by the "Make in India" plan, the cumulative shipments of "Made in India" mobile phones exceeded 2 billion units from 2014 to 2022, with an annual compound growth rate of 23% .

It is reported that huge domestic demand, improving digital literacy and government incentives are the main reasons driving the growth.

As a result, India has become the world's second largest producer of mobile phones. The Indian government has come up with several schemes and initiatives such as the Phased Manufacturing Scheme, Make in India, Production Linked Incentive and Atma-Nirbhar Bharat (Self-Reliant India) to increase local manufacturing and value addition.

Tarun Pathak, research director at Counterpoint, said: “India has come a long way in mobile phone manufacturing. Over the years, we have seen a continuous growth in local manufacturing to cater to domestic demand.

In 2022, more than 98% of India’s overall mobile phone market shipments will be “Made in India”, while when the current government came to power in 2014, locally manufactured mobile phones accounted for only 19% of the market.

Zikuai Technology