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The mobile handsets and electronics industry body, India Cellular and Electronics Association (ICEA) on Thursday said component manufacturing under the Mobile Phased Manufacturing Programme (PMP) has already crossed ₹50,000 crore, which was the target for 2019-20.
It said the industry is now expected to cross ₹70,000 crore in the fiscal year 2018-19.
The Mobile PMP had set targets for 2020, in which the number of phones to be manufactured was set at 500 million.
Around 290 million phones have already been manufactured.
The minimum value to be met was ₹1.50 lakh crore, but around ₹1.65 lakh crore of the set value has already been achieved. The critical target of generating employment was 15 lakh new jobs, out of which around 6.7 lakh people have been employed since the inception of the PMP, it said.
“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 fiscal year 2018-19 is expected to cross ₹70,000 crore. Therefore, what we had set out to do has been achieved at a macro level,” said Pankaj Mohindroo, Chairman, ICEA.
He added the industry will now focus on establishing die-cut parts, mechanics, camera modules, and connectors, which have not taken off as desired rather than jumping head and adding more components.
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