According to a report by India Cellular and Electronics Association (ICEA), India is likely to export mobile phones worth about $9 billion in FY’2023, as against $5.8 billion during FY’2022, as manufacturers step up production and outward shipments. Moreover, the report forecasts India to achieve overall electronics manufacturing of $300 billion by FY’2026.
As per data from industry body, electronics worth roughly $87 billion were manufactured locally in FY’2022, which is expected to grow to $100 billion in FY’2023. Meanwhile, mobile phone exports have already raced past the $5 billion mark in the first seven months (April 2022 – October 2022) of FY’2023, registering more than double the $2.2 billion that India clocked in the same period last year, as the likes of Apple and Samsung pushed exports.
The development of an ecosystem for electronics manufacturing and a subsequent rise in exports are primarily being led by the production-linked incentive (PLI) schemes. The central government is in touch with all state governments regarding electronics manufacturing.