Mobile production to reach $190 bn by 2025 with corporate tax cut, policy moves

Mobile phone production in the country is expected to reach USD 190 billion by 2025 on the back of enabling policy environment and lower corporate tax rate, according to industry body ICEA.

Smartphone market leader Xiaomi said corporate tax cut will enhance job generation capability in the industry, invest more in product development and encourage more component suppliers to set up their factories in India.

“Total handsets produced in India clocked 290 million units valued at Rs 1,81,000 crore (nearly USD 25 billion) during 2018-19,” ICEA said.