India’s mobile phone exports have reached an all-time high with exports exceeding Rs 90,000 crore in the 2022-23 financial year, according to estimates from industry sources and the India Cellular and Electronics Association (ICEA). This is double the amount of exports from the previous financial year. Apple was responsible for around 50% of the total exports, exporting ‘made in India’ iPhones worth $5.5 billion (roughly Rs. 45,000 crore) contributing to the massive surge in growth.
Achieving Government Targets
The government has set an ambitious target of achieving $10 billion (roughly Rs. 81,900 crore) worth of mobile phone exports from the country. The target of $300 billion (roughly Rs. 24,58,500 crore) worth of electronics manufacturing by 2025-26, including $120 billion (roughly Rs. 9,83,400 crore) worth of exports, is also one of the key government goals. The mobile phone industry is an essential part of achieving these goals, with mobile phones being anticipated to contribute more than $50 billion (roughly Rs. 4,09,700 crore) worth of exports by 2025-26.
The Roles of Key Players
Industry sources estimate that Samsung accounts for approximately 40 percent of the total mobile phone exports from India, with exports worth Rs. 36,000 crore. Third-party exports, including phone exports made in India by other brands, contributed around $1.1 billion (roughly Rs. 9,014 crore) to the overall total.
The Importance of Exports
According to ICEA Chairman Pankaj Mohindroo, “No economy or sector in the economy can become a great and vibrant global economy without large exports.” The growth in mobile phone exports, which have surpassed the Rs 90,000 crores mark, has been the key driver for the growth in electronic goods exports, which have increased by 58% to Rs 1,85,000 crore, crossing the targeted figure of Rs 75,000 crore for the year. Mohindroo added, “It is extremely satisfying that we have exceeded the targeted figure. The mobile phone export juggernaut continues.”
The Future of the Industry
With mobile phone exports in India showing immense growth potential, the industry is poised to keep driving electronic goods exports forward. The government remains firm in its commitment to the industry and will continue to incentivize companies to invest and manufacture in India.
India’s mobile phone exports have reached an unprecedented high in the 2022-23 financial year, doubling to Rs 90,000 crore from the previous year. Apple, with its ‘made in India’ iPhones worth $5.5 billion (roughly Rs. 45,000 crore), accounts for around 50% of the total exports, while Samsung has a 40% share. Third-party exports contributed $1.1 billion (roughly Rs. 9,014 crore) to the exports total. With the government committed to achieving $10 billion (roughly Rs. 81,900 crore) worth of mobile phone exports and $300 billion (roughly Rs. 24,58,500 crore) worth of electronics manufacturing by 2025-26, the mobile phone industry is positioned to continue driving economic growth in India.