India’s mobile phone exports have surpassed ₹85,000 crores

India exported more than ₹85,000 crores worth of mobile phone in the fiscal year that ended on March 31, according to industry figures released on Saturday. This achievement was made possible by the government’s push for local production of consumer electronics products. According to information released to IANS by the India Cellular and Electronics Association (ICEA), India’s smartphone exports in the fiscal year 2022–2023 exceeded a stunning $10 billion due to favorable government incentives for local production.

All About India’s Mobile Phone Export

Due to production-linked incentive (PLI) schemes, smartphone shipments from India have increased by two times compared to the same period in the previous fiscal year. According to ICEA data, the top five countries to which India now exports mobile phones are the UAE, the US, the Netherlands, the UK, and Italy.

According to Pankaj Mohindroo, chairman of ICEA, “the mobile phone sector will cross $40 billion manufacturing production and 25% exports at $10 billion is a stellar performance.” Currently, more than 97% of cell phones sold in India are made domestically. Right now, India is the world’s second-biggest producer of mobile phones.

Rajeev Chandrasekhar, the minister of state for electronics and information technology, claims that 2023 will mark a turning point for the nation as mobile phone exports will surpass ₹1 lakh crore this year. By 2027, it is expected that India would produce 45-50% of Apple’s iPhones, which will be on par with China’s 80-85% supply in 2022.

As the smartphone industry moves away from China, developing countries like India and Vietnam stand to gain the most. By the end of 2022, India would have produced 10–15% of the world’s iPhones. In December, Apple surpassed all other smartphone makers in India by shipping iPhones valued at $1 billion. Apple now manufactures the iPhone 12, 13, 14, and 14 Plus there. The government’s performance-linked system (PLI) pusha is leading the country’s new path, which is mostly export-focused.