Author: Daison David
Rising disposable income, cheaper internet, and the need to always stay connected are some of the factors that have led the Indian smartphone market to grow into one of the largest smartphone markets in the world. Indian Smartphone market size was valued at US$ 139 billion in 2021 and expected to grow with a CAGR of 10.5% and reach US$ 281 billion by 2028 . The "Make in India" initiative's goal of boosting domestic industry and indigenous businesses is another persuasive justification. The Make in China movement, which has gathered strength over the past several decades, is the main adversary of the Make in India initiative. When it comes to outsourcing, manufacturing, and services, China is the main competitor. India struggles to become a premier manufacturing centre due to its inadequate infrastructure and outdated logistics infrastructure. On 8th August 2022, it was reported that India seeks to restrict Chinese smartphone makers from selling devices cheaper than 12,000 rupees ($150) . With this action, Chinese goliaths are expected to be driven off the second-largest mobile market in the world.
The names such as Micromax, Lava, Xolo, Karbonn, Spice, and Intex were well known Indian brands. However, none of these businesses can compete in the smartphone industry of today. In fact, Micromax, during 2013-2015 had beaten Samsung India to become a number 1 smartphone company in India.
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