Production value of electronics India FY 2023, by type

In financial year 2023, the overall production value of the electronics industry in India was estimated to reach over 8.2 trillion Indian rupees. Mobile phone production was the most valuable sector with an estimated production value of 3.5 trillion rupees, which saw tremendous growth in the last few years.

Mobile phone market in India

India has one of the largest mobile phone markets in the world. However, when compared to other markets, its smartphone penetration rate is still relatively low. The demand for smartphones is expected to grow substantially. Despite the impact of the coronavirus pandemic in 2021, the volume of smartphone shipments in India reached a whopping 161 million units. It has grown more than 10 times in comparison with 2011.

Make in India smartphones

Thanks to the governmental policies for promoting local manufacturing of electronics, the number of smartphones manufactured locally has been on the rise. Many major foreign smartphone manufacturers have set up their manufacturing facilities in India. As of 2022, Oppo had the biggest market share relative to the number of smartphones manufactured in India. According to projections, by the year 2025, one fourth of iPhones would be manufactured in India.