Mobile phone exports from India almost double to USD 5.5 bn till August this fiscal
Mobile phone exports from India almost doubled to USD 5.5 billion, about ₹45,700 crore, till August this financial year, according to industry body ICEA's estimates.
Mobile phone exports from India almost doubled to USD 5.5 billion, about ₹45,700 crore, till August this financial year, according to industry body ICEA's estimates. ICEA said, mobile phone exports from India between April-August 2023 was around USD 3 billion, about ₹24,850 crore. A source, who did not wish to be named, said, with Apple exported mobile phones worth more than ₹23,000 crore, thereby accounting for a little over half of the total export.
An email query sent to Apple did not elicit any reply.
Commenting on the overall mobile phone export, ICEA Chairman Pankaj Mohindroo told PTI that mobile phone exports from India continue to buck the overall trend of muted global trade by registering a massive growth of more than 80 per cent.
We are now on WhatsApp. Click to join.
"India continues to strive hard to be a preferred location for GVCs. It is work in progress but the trend is positive," Mohindroo said.
According to ICEA estimates, mobile phone exports from India have doubled to surpass ₹90,000 crore, about USD 11.12 billion, in the financial year (FY) 2022-23, from ₹45,000 crore in FY22.
The government expects mobile phone players to export devices worth ₹1 lakh crore this year.
The government has set the target of achieving USD 300 billion worth of electronics manufacturing by 2025-26, with USD 120 billion expected to come from exports. Mobile phones are anticipated to contribute more than USD 50 billion worth of exports by 2025-26.
One more thing! HT Tech is now on WhatsApp Channels! Follow us by clicking the link so you never miss any update from the world of technology. Click here to join now!