Summary: 

India's mobile phone exports surged nearly 50% in the first ten months of FY24 (April–January), reaching Rs. 1,50,000 crore (US$ 17.27 billion), up from Rs. 1,00,000 crore (US$ 11.51 billion) last year. Driven by Apple’s iPhone exports of Rs. 1,00,000 crore and Samsung’s Rs. 34,500 crore, ICEA projects Rs. 1,80,000 crore by year-end.

Electronics have surpassed oil products as India’s second-largest export category, driven by the Production-Linked Incentive (PLI) scheme, with 99% of domestic mobile demand met locally. ICEA Chairman Pankaj Mohindroo projects mobile manufacturing to reach Rs. 5,10,000 crore (US$ 58.71 billion). With Foxconn and Tata boosting production, Apple plans to expand beyond iPhones, further strengthening India’s global manufacturing position.

Source: IBEF  

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