India Smartphone Indian smartphone industry gaining momentum: Reports
Industry experts believe that Indian smartphone export is likely to have crossed USD 10 billion (over Rs 82,000 crore) in the just-ended financial year 2023.
Apple’s ‘Make in India’ smartphones now constitute 50 per cent of total exports, followed by Samsung with 40 per cent of mobile exports and other smartphone players constituting the remaining 10 per cent of the export share, reports Asian Life.
India is now being preferred by Global manufacturing giants. Recently, Samsung opened the world’s largest phone manufacturing unit in India. Other major global giants like Apple have moved significant units in the country too. Global enterprises like Oppo, Vivo, Xiaomi, and Lava have also set up their bases and expanded operationally in India.
“The mobile phone industry will cross $40 billion manufacturing output and 25 per cent exports at $10 billion is a stellar performance,” Pankaj Mohindroo, Chairman of ICEA, told the website.
Smartphone exports from India have doubled from a corresponding period from last fiscal year, driven by production-linked incentive (PLI) schemes.
The top five global destinations India currently exports mobile phones to are the UAE, the US, the Netherlands, the UK and Italy, according to the ICEA data. India has more than 260 units manufacturing mobile phones and accessories now, with only two units operational in 2014, reports Asian Life.
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