New Delhi, Oct 11: Chinese mobile phone companies with their Indian counterparts will hold three-day joint summit starting October 22 here with around 20 firms having interest in setting up their manufacturing units in the country.
"We have seen huge interest of Chinese for making their products in India. In the upcoming summit, we are expecting large participation. Around 20 mobile phone firms, mostly component suppliers and contract manufacturers, have already expressed interest in manufacturing their products in India," ICA National President Pankaj Mohindroo told PTI.
Government's policy and new tax rules have encouraged electronic product manufacturing in the country, mainly mobile phones.
Mobile handset manufacturing activity witnessed a staggering approximately 200 per cent growth in value terms during 2015-16 compared to 2014-15. Manufacturing rose to around USD 9 billion during 2015-16 from USD 3 billion in 2014-15.
In volume terms manufacturing grew by around 90 per cent in from 60 mn units in 2014-15 to 110 mn units in 2015-16, according to Indian Cellular Association (ICA).
Some of the big names that started manufacturing in India include Foxconn, Wistron, Pegatron, Delta, Flextronics, Xiaomi, Huawei, LeEco, Vivo and Compal.
"We expect new companies like Techno and firms involved in mobile screens, camera, antenna, battery to set-up their plants as we enter in to next phase of mobile manufacturing," Mohindroo, who chairs Fast Track Task Force (FTTF) on mobile manufacturing, said.
The FTTF , set -up under the Ministry of Electronics and IT (MEITY), has set a production target of 500 million mobile handsets with establishment of a sizable components industry worth USD 8 billion and generate 1.5 million jobs.
"The event is expected to drive forward the vision to establish India as the Global manufacturing hub for mobile handsets and components. The government is fully committed to establish a robust mobile handset manufacturing ecosystem, as this remains at the heart of the Digital India vision," MEITY Additional Secretary Ajay Kumar said.
The summit is being organised by ICA in association with Chinese media platform company Shoujibao.
"We are wholeheartedly responding to Prime Minister Narendra Modi's invitation to Chinese companies to be part of 'Make in India' mission and would contribute in making India a global manufacturing hub for mobile handsets and components," Wu, Mobile World (Shoujibao) Founder & CEO Wu said.