India, which is now the fifth largest export nation for mobile phones as an individual commodity, would have faced a hefty import bill of more than Rs 14.3 lakh crore, had it not achieved self-sufficiency in the last 10 years.
Since 2014, the cumulative exports of mobile phones have reached a total estimate of Rs 3,22,048 crore, according to the India Cellular and Electronics Association (ICEA).
“In absence of such self-sufficiency, and if India had remained import dependent to the levels it was in 2014, the import bill on account of mobile phone imports alone during the 10-year period would have been Rs 14,34,045 crore,” the ICEA revealed in its latest data.
This exponential growth in production, exports and self-sufficiency stems from a conducive policy environment, and a close working relationship between industry and key government ministries.
As a next step, we have to ensure that we can shift electronics global value chains (GVCs) to India to create large-scale manufacturing jobs and increase domestic value addition, said the ICEA.
“This, in turn, requires unprecedented competitiveness and factories that can operate at scale of the kind that has never been witnessed in India,” it added.