ACCORDING TO REPORTS, INDIA EXPECTS TO EXPORT MOBILE PHONES WORTH $9 BILLION IN FY23

India will export mobile phones worth $9 billion in the current fiscal year due to increased production and shipments (FY23). According to a report in the Economic Times (ET), this will represent a huge increase from $5.8 billion in FY22.

India will produce $300 billion worth of electronics overall by FY26, predicts industry trade group India Cellular and Electronics Association (ICEA). The entire manufacture of electronics will increase to $100 billion from $87 billion in FY22.

Exports of phones alone have surpassed the $5 billion threshold, more than doubling the $2.2 billion from the previous year. Samsung and Apple have been the primary driving forces behind the growth of the phone industry. The majority of the phones made in India are these two.

"Early on in 2021, we sat with the industry and worked out this $300 billion roadmap..."

One of the main goals was to increase exports significantly from the present $18–$20 billion to $120 billion by FY26. Exports of mobile phones are anticipated to hit $9 billion this fiscal year, as per Minister of State for Electronics and IT Rajeev Chandrasekhar told ET.

He claimed that for India to become a manufacturing hub, all states must take part.

"Now what has happened is that 66 per cent of foreign direct investment (FDI) in electronics has come in the last three years and almost every state now is competing to attract investments," he said.

The Rs 41,000 crore Production-linked Incentive (PLI) scheme for smartphone manufacture was introduced by the government in 2020. Foxconn and Pegatron, two companies that manufacture iPhones, are located in Tamil Nadu. Wistron, another maker of iPhones, is based in Karnataka. Samsung's base is in Uttar Pradesh.