Make in India Apple and Samsung dominates Indian phone exports
India’s smartphone exports have crossed over US$11.12 billion, iPhone maker Apple accounting for around half of the total shipments, according to industry body ICEA and estimates from industry sources.
India Cellular and Electronics Association (ICEA) said that mobile phones export from India have doubled to surpass Rs.90,000 crore, or about US$11.12 billion, in the financial year 2022-23 from Rs.45,000 crore in FY22.
“Riding on the 100% growth in mobile phone exports, which have crossed Rs.90,000 crore for FY 2022-23, electronics exports have also grown by 58% to Rs.185,000 crore,” ICEA Chairman Pankaj Mohindroo said.
The government had set a target of US$10 billion worth of mobile phone exports from the country.
Apple is estimated to have clocked 50% share with export of ‘made in India’ iPhones worth US$5.5 billion, or about Rs.45,000 crore, reported Press Trust of India on 12 April.
Samsung accounted for about 40% share with export worth Rs.36,000 crore.
“Third party exports contributed around US$1.1 billion in the total export. These players export phones of all brands that are made in India,” PTI had sources as saying.
The government has set the target of achieving US$300 billion worth of electronics manufacturing by 2025-26, with US$120 billion expected to come from exports.
Mobile phones are anticipated to contribute more than US$50 billion worth of exports by 2025-26.
According to ICEA, mobile phone exports now account for 46% of the overall electronic goods exports. fiinews.com
