India's mobile phone exports may touch a record US$ 1.5 billion in 2020: Study
- IBEF
- November 24, 2020
A new study reported that in 2020 mobile phone exports in India's are expected to record the highest shipments ever of US$ 1.5 billion by value, out of which 98% will be smartphones.
From January to September 2020, a total of 12.8 million cell phones were exported from India, according to the research firm TechArc. Out of the total, 10.9 million were smartphones.
The report added that with 11.6 million units, Samsung leads the exports significantly, of which 9.8 million were only smartphones, followed by Xiaomi with 0.6 million units of smartphones and Lava with 0.2 million smartphones. Vivo and OnePlus are the other smartphone exporters in the top 5.
Mr. Faisal Kawoosa, founder, and principal analyst, TechArc, said, "Today, India exports to 24 countries, some of which re-export to other markets, such as the UAE, making Indian phones accessible to millions of users".
He added that the recently announced production-linked incentive (PLI) scheme, which has been approved for 16 electronics firms, including 10 manufacturers of mobile handsets, would further improve India's role in the global mobile market and complement India's goal of making it a global mobile production hub for manufacturers.
Covid-19 had a significant effect on exports, with volumes decreasing sharply from 7.4 million in January-March to 1.2 million in the April-June quarter. Exports were 4.2 million units for the July-September period, suggesting a recovery due to the improvement of the supply chain and logistics as well as the revival of work in Indian factories, the report said.
ET estimated that the production is similar to last year's performance of India's handset industry, which was Rs. 2.14 lakh crore (US$ 28.89 billion), despite a 45-day shutdown in factories. As PLI-approved companies have increased production to reach export targets.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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