With the double of smartphone exports from India to over $11 billion (approx. Rs. 90,000 crore), India is on its way to become global leader in the mobile devices segment, Union minister Ashwini Vaishnaw said. Mobile phone exports from India reach close to $11.12 billion with iPhone maker Apple accounting for around half of the total exports, according to industry body ICEA and estimates from industry sources.
Ashwini Vaishnaw Said :
“With the doubling of exports of smartphones to more than $11 billion, India is well on its way to become a leader in the mobile device market of the world and play a major role in India’s electronic exports. This is a major win for PM Modiji’s ‘make in India’ programme,”.
India Cellular and Electronics Association (ICEA) said that mobile phones export from India have double to surpass Rs 90,000 crore, about $11.12 billion, in the financial year (FY) 2022-23 from Rs. 45,000 crore in FY22.
ICEA Chairman Pankaj Mohindroo said :
“No economy or sector in the economy can become a great and vibrant global economy without large exports. The mobile phone export juggernaut continues. Riding on the 100 percent growth in mobile phone exports, which have crossed Rs 90,000 crore for FY 2022-23, electronics exports have also grown by 58 percent to Rs 1,85,000 crore. It is extremely satisfying that we have crossed the targeted figure of Rs 75,000 crore for the year,”.
Government has set a target of $10 billion worth of mobile phone exports from the country.
According to industry sources, Apple is estimate to have clock 50% share with export of ‘made in India‘ iPhones worth $5.5 billion (approx. Rs. 45,000 crore).
Sources estimate that Samsung accounts for about 40% share with export worth Rs. 36,000 crore.
Emails sent to Apple and Samsung did not elicit any response.
Source said :
“Third party exports contribute around $1.1 billion (approx. Rs. 9,014 crore) in the total export. These players export phones of all brands that are made in India,”.
Government has set the target of achieving $300 billion (approx. Rs. 24,58,500 crore) worth of electronics manufacturing by 2025-26, with $120 billion (approx. Rs. 9,83,400 crore) expect to come from exports.
Mobile phones are anticipate to contribute more than $50 billion (approx. Rs. 4,09,700 crore) worth of exports by 2025-26.
According to ICEA, mobile phone exports now account for 46% of the overall electronic goods exports.
