Mobile component output to cross Rs 70,000 crore in FY’19

“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.