Ishita Ramani
Quick Summary
Introduction Indias mobile phone industry has seen tremendous growth in the last few years. Minister Ashwini Vaishnav recently shared a significant achievement for the Indian mobile industry, with 99.2% of all mobile handsets sold in the country today being Made in India. The success of this proj
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FAQ :
Approximately 99.2% of all mobile handsets sold in India are now 'Made in India'.
The GST rate for mobile handsets and accessories was increased from 12% to 18%.
Increased domestic manufacturing leads to higher GST revenue for the government, reduced foreign transactions subject to GST, and improved tax compliance and tracking.
The growth has led to significant job creation, with the mobile phone sector employing around 2.5 lakh people, and has contributed to skill development.
The initiative has boosted India's economic resilience by reducing import dependency, fostering technological advancements, and strengthening the domestic economy.
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