Mobile phone exports from India have doubled to surpass INR. 90,000 crore in the financial year 2022-23 from INR. 45,000 crore in the previous year, according to a report by the India Cellular and Electronics Association (ICEA). The report also stated that mobile phone exports from India have crossed the targeted figure of INR. 75,000 crore for the year.
Apple, the iPhone maker, accounted for around half of the total mobile phone exports from India, estimated at $11.12 billion. According to industry sources, Apple’s ‘made in India’ iPhones worth $5.5 billion contributed 50 percent to the total export. Samsung accounted for about 40 percent of the export with an export worth INR. 36,000 crore.
Third-party exports contributed around $1.1 billion to the total export, as these players export phones of all brands that are made in India.
The government of India has set a target of $10 billion worth of mobile phone exports from the country. With the current growth rate, mobile phones are anticipated to contribute more than $50 billion worth of exports by 2025-26. The government has set the target of achieving $300 billion worth of electronics manufacturing by 2025-26, with $120 billion expected to come from exports.
Mobile phone exports now account for 46 percent of the overall electronic goods exports. Pankaj Mohindroo, Chairman of the ICEA, said that no economy or sector can become a great and vibrant global economy without large exports. He added that riding on the 100 percent growth in mobile phone exports, the mobile phone export juggernaut continues.
The growth in mobile phone exports has had a positive impact on the overall electronics exports, which have grown by 58 percent to reach Rs. 1,85,000 crore. The news has been well-received by the Indian electronics industry and is expected to attract more investments and create employment opportunities in the sector.
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