In this video, we discuss the latest developments in the Made in India smartphone market. According to research from Counterpoint, shipments of Made in India smartphones decreased 8% YoY in Q3 2022 to reach over 52 million units, marking the first decline of the year. The main causes of this contraction in consumer demand are economic headwinds and market uncertainties caused by geopolitics. Despite this, India's smartphone manufacturing ecosystem continues to grow, with 63% of shipments coming from in-house manufacturers and 37% coming from third-party EMS players. OPPO led Made in India smartphone shipments in Q3 with a 24% share, followed by Samsung and Vivo. The government is working towards increasing local value addition from 17-18% to 25% in the near future and has attracted major global players to the country through policy interventions like the PLI schemes. Overall, the manufacturing trend in India is on an upward trajectory, with multiple partnerships happening in recent months.

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