As a result of this, imports of mobile devices into the country fell to less than 50% of their former level, in the period between 20. Production in India itself went into overdrive to meet this challenge, and in 2017, India overtook Vietnam as the world’s second largest producer of mobile phones. With market analysis suggesting that India’s mobile market growth in demand could be five times faster than the world’s largest smartphone consumer, manufacturers from China such as Xiaomi and Huawei have been investing heavily in the mobile market for India. The quick and widespread adoption of smartphones in India led to something of a demand-supply deficit which could only be met through increased importation, or a ramping up of the country’s manufacturing infrastructure. Data made available by market research firm IHS, China’s National Bureau of Statistics, and the Vietnam General Statistics Office showed an increase in annual production of mobile phones in India from 3 million units in 2014 to 11 million units in 2017. Reports from February of 2015 confirmed that India’s mobile market had already overtaken the USA, establishing itself as the second largest in the world, behind China in the top spot. 27.5 million devices were sold there in the second quarter of 2016, and market projections from the Ericsson Mobility Report suggest that the number of mobile subscriptions in India will reach 1.4 billion by 2021. Since 2016 (when the nation was home to 20% of all mobile phone subscribers on the planet), India has had the fastest-growing smartphone market in the world. With 1.3 billion people spread across a vast and structurally diverse geographical area, the country can draw upon an immense pool of human resources and potential customers. India’s Mobile Market Rises to the 2nd Largest In The WorldĪs far as the mobile market is concerned, India has proven to be a giant in the sector, as both a producer and a consumer. We’ll be looking at these implications and India’s Mobile Market in this article. With the mobile sector forming a significant proportion of global trade and being a major factor in the mechanisms of digital commerce, this development is certain to have an impact on the mobile market as a whole, and on the global economy in general. In a statement issued jointly on March 28th, 2018 by the Indian Cellular Association (ICA) and India’s Information Technology (IT) Minister Ravi Shankar Prasad, it was confirmed that “India has now emerged as the second largest producer of mobile handset by volume.” This position has recently been elevated. For some years now, India has been playing a prominent role in the global economy, and has enjoyed a prominent position in the world’s mobile market.

One mobile market