Value of mobile phone component production to cross Rs 70k cr in FY'19 : ICEA

The value of mobile phone component production in the country is expected to cross Rs 70,000 crore in 2018-19, which is 40 per cent more than the Rs 50,000 crore target for 2019-20, according to mobile phone industry body 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. In fact, the component manufacturing in 2018-19 is expected to cross Rs 70,000 crore," ICEA Chairman Pankaj Mohindroo said.

Under phased manufacturing programme (PMP), the target for mobile sector included local manufacturing of 500 million mobile phones by 2020 out of which over 290 million have been manufactured.

"The minimum value to be achieved was Rs 1,50,000 crore, however Rs 1,65,000 crore approximately has already been achieved. There was a target of generating 15 lakh new jobs out of which over 6.7 lakh people have been employed," Mohindroo said.

India Cellular and Electronics Association (ICEA) said the printed circuit board assembly (PCBA or motherboard) vertical itself will see manufacturing value of over Rs 50,000 crore.

According to the data shared by ICEA, PCBA segment has achieved a value of Rs 25,000 crore in terms of production, LCD and touch panels account for Rs 5,000 crore, camera module Rs 3,500 crore, mechanics and battery pack Rs 3,000 crore each.

"The industry has already achieved 140 per cent value addition of the set target as per the PMP. We should now focus on establishing – die-cut parts, mechanics, camera module and connectors- which have not taken off as desired, rather than jumping ahead and adding more components," Mohindroo said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)