The government is establishing telecommunication equipment manufacturing zones to attract foreign direct investment (FDI) in the sector.
According to Jyotiraditya M Scindia, Union Minister of Communications and Development of North Eastern Region, over the past decade, India has exported mobile phones worth Rs 1,200 billion, transforming from a major importer to the world’s second-largest mobile phone producer, with production reaching 300 million units annually.
The minister added that the country has seen a significant increase in FDI, growing from approximately $98 billion to $160 billion over ten years, driven by policy changes including revised FDI norms. Further, he added that with $39 billion worth of FDI, now it is time for the telecom equipment manufacturing sector to go through the same revolution.