India, the world's second-largest mobile phone manufacturer

India is currently the largest mobile phone manufacturer in the world right now, second only to China. According to research done by the Indian Cellular Association (ICA), the annual production of mobile phones within the country has increased from 3 million devices in 2014 to 11 million devices in 2017.

Taking the second spot, India has knocked Vietnam into third place. Since so many mobile phones are being manufactured locally, imports of phones have reduced to less than half in 2017-18.

ICA, along with Telcom Minister, Manoj Sinha and, IT Minister, Ravi Shankar Prasad referred to market data that was available via the market research firm IHS Markit Ltd., China’s National Bureau of Statistics and Vietnam General Statistics Office. 

As per that data, India now accounts for 11 percent of global mobile production, which is much higher than the 3 percent back in 2014.

Pankaj Monhindroo, ICA National President, stated, “We are happy to inform you that with the strenuous and calibrated efforts of the Government of India, ICA, and FTTF, India has now emerged as the second largest producer of mobile handsets by volume.”

The Fast Track Task Force (FTTF), a body that falls under the Ministry of Electronics and IT, has set its sights on the target of 500 million mobile phones produced locally by 2019, estimated to be valued at around $ 46 billion. Of these, the FTTF plans on exporting at least 120 million units valued at around $ 1.5 million.

Riding the wave of increased manufacturing, the FTTF also has a set a target of creating component manufacturing of $ 8 billion and employment worth $ 1.5 million, both direct and indirect, by 2019.

According to Mohindroo, “As long as we bring the right focus on exports, we will be able to achieve these numbers.”

The policy and targets do make sense, taking into consideration that India is already the world's second largest smartphone market in terms of sales. 

Prabhjote Gill is the Senior Journalist at Business Insider India. She covering everything space, tech and defence at Business Insider India. She is also in-charge of allocating stories to junior writers.