The Minister of Electronics and Information Technology, Ashwini Vaishnav, took to social media platform X, formerly Twitter, to share an important achievement in the mobile industry.
In a post, he revealed that the Indian mobile industry has experienced exponential growth, expanding by a remarkable factor of 20 in just nine years.Minister Vaishnav posted on X, "Met Mobile industry to review progress.Industry has grown 20 times in 9 years.
2014: 78 per cent import dependent 2023: 99.2 per cent of all mobiles sold in India are 'Made in India'".
The minister made the announcement after his meeting with the key stakeholders and leaders in the mobile industry.
The meeting aimed to conduct a comprehensive review of the progress made.
The meeting is said to have served as a platform to acknowledge the industry's achievements, discuss emerging challenges, and explore strategies for sustained growth.Reflecting on the industry's trajectory, the minister highlighted a significant shift in import dependency.
He shared how in 2014, a staggering 78 per cent of the mobile market relied on imports.
Fast forward to 2023, and a transformation has occurred - an impressive 99.2 per cent of all mobiles sold in India are now proudly stamped as 'Made in India.'iPhone 17 may be developed in India from 2H 2024iPhone contract manufacturers in India are likely to begin development of the iPhone 17 in the second half of 2024, according to noted Apple analyst Ming Chi Kuo.
This will be the first time the New Product Introduction (NPI) will start outside of China, marking a significant milestone in Apples efforts in diversifying its supply chain.Apples contract manufacturers Foxconn (Hon Hai), Pegatron, and now the Tata Group, which acquired the Wistron production lines for $125 million - are speculated to start the introductory process as early as 2024.
Reports also claim that Apple may scale down its operations with Foxconn in Zhenghzhou and Taiyuan in China by 35-45% and 75-85% respectively, by 2024, the Taiwan-based securities analyst said.In addition to expanding production in India, Luxshares rapid increase in iPhone order allocation and improvements in production line automation are also the main reasons for the production scale reduction, Kuo said in a research note.