Mobile industry creates 6.7 lakh jobs.

Mobile industry creates 6.7 lakh jobs.

A total of 268 mobile handset and components making companies have set up their plants India and created 6.7 lakh jobs, India Cellular and Electronics Association (ICEA) said on Wednesday.

As per the ICEA latest physical survey, these factories are producing phones and components for both domestic and export market as well, Pankaj Mohindroo, chairman, ICEA told reporters here.

Most of these factories come up in 2017 and 2018, he added. 

India is expected to attract $ 1.5 to 2 billion by end of this fiscal in mobile handset and components producing sector. Major investment expected to flow in power bank as well as with the number of global companies keen to set up their plant on this, he said.

The growing mobile manufacturing has saved the country Rs 3 lakh crore in foreign exchange in lieu of import substitution and created domestic value addition, he said.

Claiming that industry faces serious challenges in terms of lack of a competitive corporate tax regime, lack of ready to move infrastructural facilities to start production activities, he said the government must take steps to create industry-friendly atmosphere.

He also suggested the draft national policy on electronics 2018 must focus on improving manufacturing competitive and competencies with a special focus to tap the export potential.