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Growing Indian Telecom Market
The sudden revolution in the Indian Telecom market in past decade is no hidden fact from the world but according to Head on Xiaomi online sales in India Mr. Raghu Reddy, India may become the second largest smartphone selling country in the world if sales continue at the current rate.According to him,the smartphone sales grew at rate of 10% in 2017. Most of sales are coming from handsets in price range of Rs. 10000 - Rs. 20000 and at this rate, India could overtake salesin United States and become second largest smartphone selling country globally after China. According to Mr Raghu, Xiaomi alone is country's largest smart phone selling company with growth of 300% sales in 2017 including 30 % market share in both online and offline sales. These figures are well supported by the fact that Xiaomi has now six production facilities spread in Uttar Pradesh, Tamil Nadu and Andhra Pradesh.
Will increase in smart phone sales boost Indian Economy
Common understanding gives indication to the fact that Mobile handset sales and other telecom services are definitely interconnected and increase in sales of anyone will affect the other and vice versa. Moreover, foreign investors are also taking interest in growing Indian handset market and this could further encourage investments and inflow of capital in the country and hence increasing employment opportunities and generating GDP. But there could be challenge of managing things in efficient manner and coping with competition from global smartphone market.The depreciation of Rupee as currency in global foriegn exchange could be another potential challenge as manufacturers will be forced to increase the phone prices.
Like the famous proverb that buying an elephant is easy than feeding it and hence maintaining it's growing smartphone sales in cut throat global competition will be challenge for India. However, it is.not impossible with Huge amount of talented workforce in the country. Another benifit is the money which used to flow out of country due Indians buying smartphone from foreign countries is reduced to considerable extent. Hence Indian money stays in India and could be reinvested in the economy.For further boost to Make in India,the Printed Circuit Board Assembly (PCBA) which accounts for 50% of value of smartphones will be made in India according to Mr Reddy.
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