Apple, Samsung boost India’s mobile phones exports to ₹1.2 trillion
NEW DELHI : India’s mobile phone exports are expected to cross ₹1.2 trillion at the end of this financial year, reaching a major milestone propelled by the government’s thrust on phone makers such as Apple and Samsung to manufacture locally. The exports would account for nearly one-third of the total domestic production of mobile phones, projected at about ₹4.1 trillion in FY24, the Indian Cellular and Electronics Association said on Thursday.
According to industry observers, a majority of the mobile phone exports by value are on account of Apple and Samsung devices. “Cumulative exports of mobile phones during the period 2014-2024 reached a total estimate of ₹3.22 trillion—a new era in India’s exports," said the association, which represents major phone makers including Apple, Xiaomi, Oppo and Vivo.
“Mobile phones have now become India’s fifth-largest export as an individual commodity." India’s mobile phone manufacturing industry is estimated to have produced about 2.45 billion devices worth ₹19.45 trillion cumulatively over the past 10 years, a shade below its target of 2.5 billion phones worth about ₹20 trillion, the association said. India is the world’s second-largest producer of mobile phones.
“The sector has transitioned from being 78% import dependent in 2014 to 97% self-sufficiency currently. The future would be export growth-led," the association said.
Prime Minister Narendra Modi had during his Independence Day speech in 2014 urged global companies to manufacture in India. Over the past decade, a number of mobile phone manufacturing units have come up in the country, including that of the world’s largest contract manufacturer Foxconn Technology Group, which is also the largest maker of Apple’s iPhones globally.
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