Mobile exports cross US$ 6 billion (Rs 50,000 crores) in eight months

Nearly 40% of the US$ 6 billion (Rs 50,000 crores) worth of smartphones exported from India are iPhones, which Apple exports to Europe, West Asia and Asian countries, except China. At a time when exports in many sectors are either sliding or at best remaining stable, smartphone shipments from India crossed the US$ 6 billion (Rs 50,000 crores) mark during April-November 2022.

The ramp-up of mobile phone exports is seen as a major success of the government’s flagship smartphone PLI scheme. The scheme propelled the shifting of Apple’s supply chains – one of the world’s largest and most complicated – in the middle of the pandemic.

The government has launched 14 PLI schemes since April 2020. In the telecom space, the government launched three schemes – large-scale electronics manufacturing (primarily smartphones), telecom and networking products, and IT hardware. Out of these three schemes, the smartphone PLI scheme has been the most successful. In fact, it is currently the most successful scheme across all 14 PLI schemes, and also the largest. These 14 PLI schemes are expected to attract an incentive of US$ 29 billion (Rs 2.4 trillion), with investments of US$ 30 billion (Rs 2.54 trillion). Furthermore, the expected incremental output over the next 5-6 years would be US$ 340 billion (Rs 28.15 trillion).

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.