Intex, one of the leading device companies in India, is setting up a new manufacturing facility in Kasna, Greater Noida (Uttar Pradesh) as part of its strategy to consolidate all the Noida manufacturing capacity at a single location. The Kasna manufacturing unit will have mobile production capacity of 40 million per annum against the current capacity of 2 million per month.
The expansion plans of Intex reflect the consumer demand in India. India’s mobile subscriber base of over 1.05 billion creates enormous opportunities for handset manufacturing companies in India. The Indian electronics industry is anticipated to reach $400 billion in 2022 with projected growth of compound annual growth rate (CAGR) of 24.4 percent during 2012-2020, reported Telecomlead.
This growth is being encouraged both by government policies, incentives and international investment. With the rapid integration of the notions of “Make in India” into the Indian economy by the Government, more and more organizations are opting for domestic manufacturing. India is working towards becoming a manufacturing hub by the year 2020.
The Union Budget 2018 supported the Indian manufacturing policy of several phone makers. The hike in customs duty on mobile phones from 15 percent to 20 percent, on some of their parts and accessories to 15 percent and on certain parts of televisions to 15 percent will encourage phone companies to produce more products locally.
“This is enabling organizations to move to domestic manufacturing to save on costs, making India into a manufacturing hub. For Indian companies, this has come as a blessing. Major market players in the mobile industry which are homegrown brands, welcomed the ideology, supporting domestic device manufacturing”, said Nidhi Markanday, director, Intex Technologies to Telecomlead.