According to India Cellular and Electronics Association (ICEA), mobile phones export from India doubled to surpass Rs 900 billion, about $11.12 billion, in the fiscal year (FY) 2022-23 from Rs 450 billion in FY 2021-22. Apple accounted for around half of the total exports with the export of ‘made in India’ iPhones worth about Rs 450 billion ($5.5 billion). Also, mobile phone exports now account for 46 per cent of the overall electronic goods exports.
According to Pankaj Mohindroo, chairman, ICEA, no economy or sector in the economy can become a great and vibrant global economy without large exports. Riding on the 100 per cent growth in mobile phone exports, which have crossed Rs 900 billion for FY 2022-23, electronics exports have also grown by 58 per cent to Rs 1.85 trillion. The country has thus crossed the targeted figure of Rs 750 billion for the year.
The government has set the target of achieving $300 billion worth of electronics manufacturing by FY 2025-26, with $120 billion expected to come from exports. Mobile phones are anticipated to contribute more than $50 billion worth of exports by 2025-26.
