CONFUSING DATA ON INDIA’S MOBILE HANDSETS PRODUCTION
NEARLY 90 PERCENT COMPONENTS ARE STILL IMPORTED
2018-10-29 12:00
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Official data are like audited corporate financial accounts that hide more than they reveal. Just as some of the latest top level governments statements that claims 80 percent of the mobile handsets are now manufactured in India and the country “was able to save around Rs. three trillion in cell phone import bills during the last four years”. They reveal, at best, only one side of the story. The real story is that the so-called high domestic production led to much higher telecom imports, mostly components, during this period. Records show that India’s net electronic imports increased 12 percent last year. The annualised electronic goods deficit touched some $50 billion for April-December, 2017. That was as much as 30 percent higher on a year-on-year basis.