India is the world’s second largest mobile phone manufacturer after China. And with the current pace of growth, India is not far from becoming the leading handset market in the world. According to the Indian Cellular Association (ICA), the annual production of mobile phones within the country has increased from 3 million devices in 2014 to 11 million devices in 2017. India now accounts for 11 percent of global mobile production, which was only 3 percent in 2014. In fact, the telecom industry today is amongst the top five employment opportunity generators in India, creating over four million direct and indirect jobs over the next few years, according to Randstad India.
Last year, India overtook the United States to become the world’s second-largest smartphone market, after China. Statistics suggest that there will be 780 million connected smartphones in 2021, compared with 359 million in 2016, according to a study by Cisco Systems. Smartphone makers from Xiaomi Corporation to Oppo Mobiles are building factories in the world’s fastest growing market for the product bolstering push by the Indian Government, to encourage overseas investors to ‘Make in India’.