As per the ICEA (India Cellular and Electronics Association), the exports of mobile phones from India are expected to cross Rs 43,500 crore during the current financial year ending March 31 2022.
The exports of mobile phones from India have already jumped about 75 per cent in one year to USD 5.5 billion (about Rs 42,000 crore) early this month from USD 3.16 billion (about Rs 24,000 crore) at the end of 2020-21. The jump is expected to be buoyed by the government’s production-linked incentive (PLI) scheme.
In spite of the three Covid waves which were devastating, which shot into various hurdles, like the loss of workforce, lockdowns and the worst ever crisis on the supply chain, including acute scarcity of chips and semiconductors.
The export of mobile phones from India is driven by Apple and Samsung.
In the past, mobile phones from India were primarily exported to South Asia, Africa and parts of the Middle East and Eastern Europe, but now companies are targeting some of the most competitive and advanced markets in Europe and developed Asia.
During a 5-year period, the approved companies under the PLI scheme are expected to lead to total production of over Rs 10.5 lakh crores, of which nearly 60 per cent has to come from exports accounting for around Rs 6.5 lakh crores.
Under the Smartphone PLI Scheme, the government has allocated Rs 40,951 crore between 2020-21 and 2025-26, where participating companies are allowed to choose any 5 years out of the 6 years for meeting their production targets.
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