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'India's mobile phone component industry to cross Rs 70,000 cr in FY19'
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SME Times News Bureau | 18 Jan, 2019
Value of mobile phone component manufacturing industry in India under
the Mobile Phased Manufacturing Programme (PMP) would cross Rs 70,000
crore in the financial year 2018-19, the Indian Cellular and Electronics
Association (ICEA) said on Thursday.
According to the industry
body, the Indian component industry has already achieved the market
value of Rs 50,000 crore, which was targetted to be achieved by the
financial year 2019-20.
"The Mobile PMP had set targets for 2020.
The number of phones to be manufactured was set at 500 million out of
which approximately over 290 million phones have been manufactured. The
minimum value to be achieved was Rs 150,000 crores. Rs 165,000 crores
approximately of the set value has already been achieved," the ICEA
statement.
Commenting on the development, Pankaj Mohindroo,
Chairman of ICEA: "The component manufacturing target of Rs 50,000 crore
which was to be achieved by March 2020 has already been achieved. We
have crossed the same in spite of lack of progress in some of the 2017
PMP components and that 2019 components have not yet been notified."
The
critical target of generating employment of 15 lakhs new jobs, over 6.7
lakhs people have been employed since the inception of the PMP, the
ICEA statement said.
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