India has witnessed a boom in the smartphone market and is considered as one of the fastest growing smartphone markets in the world. According to a Morgan Stanley research report, India is expected to overtake the US next year as the second-largest smartphone market, in terms of units. India\u2019s mobile handset market will grow nearly five times faster than the world\u2019s largest smartphone market - China, where growth has decelerated.<\/p>

Earlier this year mobile manufacturing base in India reached an astounding 100 million units. With new companies entering the stratosphere, Indian companies have made vital contributions in this milestone. As per the recent statistics, by 2020 India will become the 4th largest smartphone market in the world that can only be achieved once the nation\u2019s foremost companies take similar marquee establishment decisions.<\/p>

In recent years, majority of smartphone companies have set up manufacturing units in India rather that procuring ready products from China. The first step to building a manufacturing eco-system in the smartphone category entails local assembling through emerging or established third party manufacturers.<\/p>

Taiwan-based Foxconn has two large scale manufacturing units in India, this reiterates the growing demand for manufacturing in India. The next step to making India\u2019s manufacturing ecosystem more robust is for companies to bring their complete infrastructure in India.<\/p>

The demand for smartphones is growing exponentially in India specially in Tier II and III markets. Local smartphone manufacturing will contribute sizably growth of companies in India and the growth of the nation as well.<\/p>

Government\u2019s 'Make in India' initiative has been pushing companies to invest in India and focus on local manufacturing. Quoting a recently released Government of India report, the mobile industry's contribution to the country\u2019s GDP currently stands at 6.5% ($140 billion) and is likely to become 8.2% by 2020. When the government initially announced its plans to rebrand the nation as the new \u2018Manufacturing touchstone\u2019 of the world, many industry experts looked at the initiative with raised eyebrows.<\/p>

With a 2.1% market share in global manufacturing the nation was in stark contrast with its neighbours China, the alpha dog in the global manufacturing game. But like every great story waiting to happen, the \u2018Make in India\u2019 initiative has gone down well in all aspects, especially in the electronics market.<\/p>

It also seeks to facilitate employment opportunities, foster innovation, boost skill development within the country. Other initiatives such as the \u2018Digital India\u2019 \/ \u2018Smart Cities\u2019 will certainly bring a boost for the mobile sector.<\/p>

A complete manufacturing eco-system cannot ignore the importance of R&D. This includes the smartphones understanding of the Indian market and developing products that best suited for our country. The R&D department is also crucial as it sets the global standards for all its products and making sure they are in line with international norms.<\/p>

In the 17-month period from Oct 2014 - Feb 2016, Make-in-India reforms have boosted FDI in India by 37%, India now is the 1st choice for MNC\u2019s and Tech companies to set up R&D centres outside their home countries. The telecom and electronics industry are well and truly poised to bolster India\u2019s domestic and manufacturing market, which is all set to touch $440 billion by 2020.<\/p>

The domestic consumer electronics and durables sector has witnessed a substantial amount of growth over the last few years. The sector plays an important part in the economy of the country and provides employment to millions across the nation.<\/p>

With the long-term vision and continued support given by the government, India is on the right path to develop a complete ecosystem for manufacturing excellence.<\/p>

<\/p>","blog_img":"","featured":0,"status":"Y","seo_title":"'Make in India' and the emergence of India as a manufacturing powerhouse","seo_url":"make-in-india-and-the-emergence-of-india-as-a-manufacturing-powerhouse","cms_link":"make-in-india-and-the-emergence-of-india-as-a-manufacturing-powerhouse\/2668","updated_at":"2017-10-26 12:41:37","time":"2017-10-26 12:41:37","authors":[{"author_name":"Sanjay Kalirona","author_description":"CEO and Director, COMIO India","author_designation":"CEO and Director","author_company":"COMIO India","profile_pic":"retail_files\/author_1517568145_temp.jpg"}],"tags":["Make In India","India","China","Mobile Handsets","Smartphones"],"url_seo":"make-in-india-and-the-emergence-of-india-as-a-manufacturing-powerhouse"}">