India on its way to become global leader in mobile devices segment, says Ashwini Vaishnaw
According to estimates by industry body ICEA and industry sources, mobile phone exports from India reached close to USD 11.12 billion, with iPhone maker Apple accounting for almost half of the total exports. Vaishnav said that this is a big victory for PM Modi’s ‘Make in India’ programme. He is playing a major role in India’s electronic exports.
Mobile phone exports from India are set to double to Rs 90,000 crore, approximately USD 11.12 billion, in FY22-23 from Rs 45,000 crore in FY22, the India Cellular and Electronics Association (ICEA) said. The government has set a target of $10 billion worth of mobile phone exports from the country.
Electronics exports have also grown by 58 per cent to Rs 1,85,000 crore, said ICEA President Pankaj Mahendru. No economy or sector in the economy can become a great and vibrant global economy without large exports. India is riding on a 100 per cent growth in mobile phone exports, which have crossed Rs 90,000 crore for FY 2022-23.
According to industry sources, Apple is estimated to account for 50 per cent of ‘Made in India’ iPhone exports worth $5.5 billion, which is around Rs 45,000 crore. Sources estimate that Samsung accounts for around 40 per cent with exports at Rs 36,000 crore. Emails sent to Apple and Samsung did not elicit any response. The contribution of third party exports to the total exports is around $1.1 billion, the source said. These companies export phones of all brands made in India.
Mobile phone exports cross $11 billion
On the other hand, the export of mobile phones from the country has crossed $11 billion in 2022-23. Apple’s share in this is 50 percent. The India Cellular and Electronics Association (ICEA) said that the total exports stood at $11.12 billion, or Rs 90,000 crore. This is more than double the Rs 45,000 crore in 2021-22. According to sources, Samsung’s share in total exports has been 40 per cent. $1.1 billion has been exported through third parties.
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