Key Points
Mobile exports projected to grow 40% in current fiscal
PLI scheme drives unprecedented manufacturing transformation
US emerges as key smartphone market for India
In the 10 months this fiscal (April-January), India reached Rs 1,50,000 crore in mobile exports, with January alone surging past Rs. 25,000 crore in exports, according to data shared by the India Cellular and Electronics Association (ICEA).
There has been estimated over 680 per cent growth since the inception of the PLI scheme in FY20-21.
Mobile phones export is the largest growth driver within electronics, with the U.S. standing out as a key market for India's smartphones.
This unprecedented performance underscores the transformative impact of the production-linked incentive (PLI) scheme, which has redefined India's electronics manufacturing landscape.
Since the launch of the PLI scheme, mobile phone production in India has doubled -- from Rs 2,20,000 crore to Rs 4,22,000 crore -- marking an unprecedented achievement.
Looking ahead, production is set to reach an estimated Rs. 5,10,000 crore in FY24-25, further cementing India's emergence as a global manufacturing powerhouse.
"We have reached a substantial scale, driven by strong government support and our industry's robust capability. Moving forward, we will focus on nurturing competitiveness, expanding scale, and strengthening our supply chain," said Pankaj Mohindroo, Chairman of ICEA.
The next phase will involve aggressive integration with the value chain to boost domestic value addition, driving us toward achieving India's ambitious $500 billion electronics manufacturing target and our vision of becoming the largest exporter of smartphones globally, he added.
The remarkable achievement is a product of a synergistic partnership between a proactive government and an industry that has consistently proven its mettle by producing globally competitive smartphones.
Smartphones are now poised to become India's top export commodity for the first time in history -- a testament to an unprecedented turnaround in our independent manufacturing capabilities.
"We cannot afford to be complacent -- our journey has only just begun. There are immense opportunities still to be harnessed, and with the rapidly evolving geopolitical landscape, our window of opportunity is short. We must take decisive steps forward," said Mohindroo.
