INTERNATIONAL TRADE: NATIONAL: India’s Mobile Phone Export crosses USD 11 bn in FY23, Apple clocks 50 per cent share

With iPhone maker Apple accounting for around half of the total mobile phone exports, handset exports from India reached close to $11.12 billion, according to industry body ICEA.

With iPhone maker Apple accounting for around half of the total mobile phone exports, handset exports from India reached close to $11.12 billion, according to industry body ICEA.

The India Cellular and Electronics Association (ICEA) said mobile phone export from the country has doubled to surpass Rs 90,000 crore, about $11.12 billion (91,000 crore) in the financial year 2022-23 (FY23) from Rs 45,000 crore in FY22. The government has set a target of $10 billion worth of mobile phone exports from the country.

ICEA Chairman Pankaj Mohindroo said, “No economy or sector in the economy can become a great and vibrant global economy without large exports. Riding on the 100% growth in mobile phone exports, which have crossed Rs 90,000 crore for FY 23, electronics exports have also grown by 58% to Rs 1,85,000 crore. It is satisfying that we have crossed the targeted figure of Rs 75,000 crore for the year.”

According to a PTI report, citing industry sources, Apple is estimated to have clocked 50% share with export of ‘made in India’ iPhones worth $5.5 billion, about Rs 45,000 crore while Samsung accounts for about 40% share with export worth Rs 36,000 crore. 

“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 Modijis Make in India program,” said telecom minister Ashwini Vaishnaw on record smartphone exports from India.

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 phones are expected to contribute more than $50 billion worth of exports by 2025-26. 

source/content: newindianexpress.com (headline edited)