Indian mobile handsets market is expected to cross 300 million devices this year while only 46 million are likely to be built locally, according to a report. “The domestic market for mobile handsets is expected to cross 300 million devices in 2015, while the number of devices being manufactured locally is expected to be only 46 million,” said a report by Ficci-EY titled ‘Speeding Ahead on the Telecom and Digital Economy Highway’.
Citing the example of Vietnam, which has emerged as a global hub for manufacturing of mobile handsets because of favourable incentive schemes and stable regulatory environment, it said there is a need for incentives for setting up of new handsets and tablets manufacturing units in the country.
Despite India’s market growing at a robust rate, almost 83 per cent of the demand is met via imports, while domestic production and manufacturing continue to lag, the report said. “It is imperative that measures are taken to address this mismatch and reduce dependence on imports,” the report added.