India on its way to become global leader in mobile devices segment, says Ashwini Vaishnaw
Apr 13, 2023
New Delhi [India], April 13 : Union minister Ashwini Vaishnaw said the country is on its way to becoming a global leader in the mobile devices segment with the doubling of smartphone exports from India to over USD 11 billion.
"With the doubling of exports of smartphones to more than USD 11 billion, India is well on its way to become a leader in the mobile device market of the world and play a major role in India's electronic exports. This is a major win for PM Modiji's Make in India programme," Vaishnaw said in a statement on Wednesday.
According to the industry body India Cellular and Electronics Association (ICEA), mobile phone exports from India reached close to USD 11.12 billion with iPhone maker Apple accounting for around half of the total exports. Mobile phones exported from India have doubled to surpass Rs 90,000 crore, which is about USD 11.12 billion in the financial year (FY) 2022-23 from Rs 45,000 crore in 2021-22.
According to the ICEA, the exports in 2022-23 were led by Apple and the top exporting destinations for mobile phones included the UAE, the US, the Netherlands, the UK, and Italy.
"No economy or sector in the economy can become a great and vibrant global economy without large exports," ICEA Chairman Pankaj Mohindroo said, adding, "The mobile phone export juggernaut continues. Riding on the 100 per cent growth in mobile phone exports, which have crossed Rs 90,000 crore for FY 2022-23, electronics exports have also grown by 58 per cent to Rs 1,85,000 crore. It is extremely satisfying that we have crossed the targeted figure of Rs 75,000 crore for the year."
