The industry body, India Cellular and Electronics Association(ICEA) and estimates from industry sources said that mobile phone exports from India reached close to USD 11.12 billion with iPhone maker Apple accounting for around half of the total exports.
Mobile Phone Exports Doubled
Further, ICEA said that mobile phones export from India have doubled to surpass Rs 90,000 crore, about USD 11.12 billion, for the financial year (FY) 2022-23 from Rs 45,000 crore in FY22.
ICEA Chairman, Pankaj Mohindroo said,”No economy or sector in the economy can become a great and vibrant global economy without large exports. The mobile phone export juggernaut continues. Riding on the 100 per cent growth in mobile phone exports, which have crossed Rs 90,000 crore for FY 2022-23, electronics exports have also grown by 58 percent to Rs 1,85,000 crore. It is extremely satisfying that we have crossed the targeted figure of Rs 75,000 crore for the year.”
Interestingly, the center has set a target of USD 10 billion worth of mobile phone exports from the country earlier.
Apple Acing The Game
Out of this, Apple is estimated to have clocked 50 percent share with export of ‘made in India’ iPhones worth USD 5.5 billion, about Rs 45,000 crore, as per the information provided by the industry sources.
Other players like Samsung account for about 40 percent share with exports worth Rs 36,000 crore, according to the sources.
Further adding, “Third party exports contributed around USD 1.1 billion in the total export. These players export phones of all brands that are made in India,”.
For the future, the center has set the target of achieving USD 300 billion worth of electronics manufacturing by 2025-26, out of that USD 120 billion is expected to come from exports.
It is noteworthy here that mobile phones are anticipated to contribute more than USD 50 billion worth of exports by 2025-26.
Which accounts for more than 46 percent of the overall electronic goods exports, according to ICEA.
