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India’s electronics industry saw a record exports of electronic goods at an estimated Rs 1,85,000 crore in FY22-23A, according to the India Cellular and Electronics Association (ICEA). The exports went up from Rs 1,16,936 crore in FY21-22, marking a whopping 58 percent increase. The growth is led by locally-manufactured mobile phones. The mobile phone exports made history by crossing the $10 billion threshold for the first time in any fiscal year, reaching an estimated $ 11.12 billion (over Rs 90,000 crore) in FY23.
Mobile phone exports rose from Rs 45,000 crore in FY 21-22 to Rs 90,000 crore, underlining the vital role of this sector in India’s electronics export market. The number surpassed the previous estimate of Rs 75,000 crore. With this, the mobile phone exports in the country now account for 46 per cent of the overall electronic goods exports. “The mobile phone export juggernaut continues. It is extremely satisfying that we have crossed the targeted figure of 75,000 crores for the year. Industry and government in partnership are strenuously working on replicating this in other verticals,” said Pankaj Mohindroo, Chairman, ICEA.
“We must remain focused on the road ahead and continue to push the boundaries of what we can accomplish in the future,” he added.
Apple leads the pack
This growth in mobile phone exports has been driven primarily by the Apple ecosystem, which alone crossed a record $5 billion (Rs 4500 crore) in exports from India during the FY23. According to industry sources, Apple is estimated to have clocked 50 per cent share with export of ‘made in India’ iPhones. Sources estimate that Samsung accounts for about 40 per cent share with exports worth Rs 36,000 crore.
The top exporting destinations for mobile phones include the UAE, the US, the Netherlands, the UK, and Italy.
PLI success
The performance of the performance-linked incentive (PLI) scheme for mobile phones serves as a model for other electronic segments to emulate this success in increasing manufacturing and exports. Mobile phones alone are anticipated to contribute more than $50 billion worth of exports by 2025-26.
Mobile phone exports rose from Rs 45,000 crore in FY 21-22 to Rs 90,000 crore, underlining the vital role of this sector in India’s electronics export market. The number surpassed the previous estimate of Rs 75,000 crore. With this, the mobile phone exports in the country now account for 46 per cent of the overall electronic goods exports. “The mobile phone export juggernaut continues. It is extremely satisfying that we have crossed the targeted figure of 75,000 crores for the year. Industry and government in partnership are strenuously working on replicating this in other verticals,” said Pankaj Mohindroo, Chairman, ICEA.
“We must remain focused on the road ahead and continue to push the boundaries of what we can accomplish in the future,” he added.
Apple leads the pack
This growth in mobile phone exports has been driven primarily by the Apple ecosystem, which alone crossed a record $5 billion (Rs 4500 crore) in exports from India during the FY23. According to industry sources, Apple is estimated to have clocked 50 per cent share with export of ‘made in India’ iPhones. Sources estimate that Samsung accounts for about 40 per cent share with exports worth Rs 36,000 crore.
The top exporting destinations for mobile phones include the UAE, the US, the Netherlands, the UK, and Italy.
PLI success
The performance of the performance-linked incentive (PLI) scheme for mobile phones serves as a model for other electronic segments to emulate this success in increasing manufacturing and exports. Mobile phones alone are anticipated to contribute more than $50 billion worth of exports by 2025-26.
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