Back at the beginning of 2019, the central government initiated a new policy, named PLI or Production Linked Incentive, aiming to boost mobile manufacturing in India. Notified in April 2020, the scheme attracts international brands to establish their manufacturing units in this country. It also provides 4% – 6% incentive on incremental sales of products made in India. The government expects a mobile phone production of around Rs.9 lakh crore from PLI-approved handset makers.
Today, India ranks as the 2nd largest manufacturing center of mobile phones globally after China. In terms of domestic consumption, over 95% of the products sold are made in this country. Now, there are certain reasons behind this made in India phone popularity, a few of which are discussed below.
9 top reasons for the popularity of domestic products
1) Value for money
Leading mobile phones manufactured in the home country offer good value for money. That’s because brands design various models according to the demand among domestic customers and their preferences. A Chinese brand, Xiaomi, agreed that mobile manufacturing in India offers them higher flexibility in margins and pricing.
2) Comparatively affordable
For consumers, establishing large-scale manufacturing facilities prove beneficial as product prices become more affordable. Big names like Oppo and Vivo have already allocated major investment towards their ‘Made in India’ products.
3) Software for India’s needs
Most devices manufactured here come equipped with software matching the requirements of local customers.
4) Boosts domestic production
Mobile manufacturing in India gives an impetus to the government’s initiative of ‘Vocal for Local’. With more consumers being supportive, the demand not only caters to their requirements but also boosts domestic production. It expands job opportunities to the extensive local factory worker and engineer population.
5) 5G smartphones in the making
Owing to the 5G push, the Indian smartphone market is expected to grow significantly by 2022. The 5G technology is comparatively faster, smarter, and efficient and promises a speed 100 times more, exactly what the young consumer base usually prefers.
6) Premium production quality
Most plants in the country develop superior quality products using top-notch tools and equipment. Transparency is maintained throughout, which leaves customers with a minimum possibility of complaints.
7) Increased usage of smartphones
The year 2020 witnessed an increase in smartphone dependency among consumers in India. Both working individuals and students rely on mobiles for ‘work from home’ or online classes. Others prefer to stay connected with the world, putting communication or connectivity above everything else.
With the upcoming 5G phones and the technology penetrating, the next few years expect around 907 million consumers to have internet accessibility.
8) Disruption in shipment
As early 2020 witnessed economic disruptions and zero shipments, the demand for ‘Made in India’ smartphones increased rapidly. Around 45% of total sales happened through online channels with customers opting for contactless purchases.
9) Availability of service centers
A significant reason for purchasing an Indian manufactured smartphone is the easy availability of service centers. Customers can have peace of mind as the brand shall ensure basic to rare repairing and maintenance jobs without any hassle.
Choose the best model from a top brand
Giants such as Wistron and Foxconn are tied up with brands like Apple for mobile manufacturing in India. Currently, iPhone 11 and iPhone XR are being made in Foxconn’s Chennai unit. Wistron, in its Bengaluru unit, is producing the iPhone SE 2020 edition. Also, 99% of Mi phones are now locally made, as per Xiaomi India. Top Indian brands are no behind, with Dixon Technologies, Lava, Sojo Manufacturing Services, Padget Electronics, and others bringing ‘Made in India’ phones.
Some of the ‘Made in India’ mobile phones include Redmi Note 8 Pro, Samsung Galaxy M31, Xiaomi Redmi Note 9 Pro, Motorola One Fusion Plus, and OnePlus 8 Pro. Other high-end 5G-capable models available in the country are –
- Apple iPhone 12 series (around Rs.80,000)
- Samsung Galaxy Note 20 Ultra 5G (around Rs.1,05,000)
- OnePlus 8T (starting from Rs.43,000)
- Vivo V20 Pro (around Rs.30,000)
- Realme X50 Pro 5G (starting from Rs.38,000)
- Asus ROG Phone 3 (from Rs.47,000 to up to Rs.55,000 approximately)
With such exclusive models available, choose one from the best devices or upcoming 5G phones offered by prominent brands. However, as most of these are highly-priced, you can purchase them with zero down payment using the Bajaj Finserv EMI Network Card. This card offers the benefit of No Cost EMIs, where you repay only the amount of the new smartphone in manageable installments. No processing fees or interest rates are imposed.
You need to purchase a ‘Made in India’ mobile phone on Bajaj Finserv EMI Network, partnered with 1 lakh+ store spread across 1900+ locations. Also, look for pre-approved offers that make the credit availing process simplified and less time-consuming. Such schemes are available on several financial products, including loans and credit cards. Check your pre-approved offer with your name and contact number online.
Regardless of the price, you can now buy a ‘Made in India’ smartphone with cutting-edge features in easy EMIs. Simply swipe the card or avail of in-store financing with your KYC documents and a canceled cheque only.