In the first 10 months of the fiscal year (April to January), India’s mobile phone exports increased by almost 50%, hitting almost ₹1.5 lakh crore (roughly $18 billion). This is a tremendous increase. Record iPhone production in India is the main driver of this increase, and Apple is a key player in this development. Exports were worth ₹1 lakh crore during the same time last year.
Just Apple’s iPhone exports brought in around ₹1 lakh crore, a substantial increase over the ₹60,000 crore earned in the previous fiscal year. This suggests that there is a high demand for iPhones made in India, which is currently an important location for Apple’s manufacturing in addition to its operations in China.
With an expected ₹34,500 crore in exports during the current fiscal year, Samsung has also contributed to the stats, even though Apple leads the export market.
By the end of the fiscal year, mobile phone exports might surpass ₹1.8 lakh crore, according to the India Cellular and Electronics Association (ICEA), which would represent a 40% increase over the previous year’s data.
The government’s Production-Linked Incentive (PLI) program, which encourages domestic manufacture and has greatly expanded India’s electronics industry, is primarily responsible for the export boom. With a projected production value of 5.1 lakh crore, the initiative is anticipated to assist India in achieving its lofty goal of becoming a worldwide manufacturing powerhouse.
Due to a change in global supply chains brought about by geopolitical factors and businesses’ strategic intentions to diversify their manufacturing locations away from China, the United States has become a major market for Indian smartphone exports.
This growth trajectory demonstrates the efficacy of government measures intended to strengthen domestic manufacturing capabilities in addition to highlighting India’s potential as a significant player in the global electronics market.
