India to Fulfill Entire Mobile Phone Demand Locally by FY24 as Apple, Google Boost Production
India is on track to meet all domestic mobile phone needs through local manufacturing by the end of FY24, with Apple and Google ramping up production. Apple’s recent start of iPhone 16 Pro and Pro Max manufacturing, alongside Google’s Pixel 8 production, marks the success of India’s production-linked incentive (PLI) scheme. Samsung already manufactures all devices locally.
In FY23, India’s smartphone market reached $33 billion, with imports at 4.2%. By FY24, imports have dropped to 2.5%, thanks to increased local manufacturing. Industry leaders aim to expand this growth, targeting a $500 billion electronics production milestone.
Apple’s price cuts for locally produced iPhones and government policies have further boosted India’s manufacturing ecosystem, curbing imports to less than 1% in volume. The PLI scheme continues to drive this push, with global and local players contributing to India’s rise as a global electronics hub.
