India’s Mobile Phone Exports Reach USD 5.5 Billion in August of Current Fiscal Year
According to estimates from industry body ICEA, mobile phone exports from India have nearly doubled to reach USD 5.5 billion, equivalent to about ₹45,700 crore, by August of this financial year. ICEA also reported that mobile phone exports from India during the period of April to August 2023 amounted to approximately USD 3 billion, or ₹24,850 crore. An anonymous source revealed that Apple alone accounted for over half of the total export, with mobile phones worth more than ₹23,000 crore being exported.
An email inquiry sent to Apple did not receive a response.
Commenting on mobile phone exports to PTI, ICEA Chairman Pankaj Mohindroo said mobile phone exports from India continue to buck the overall muted world trade by registering a massive growth of over 80 per cent.
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“India is still pushing hard to be a preferred destination for GVCs. It is ongoing but the trend is positive,” Mohindroo said.
According to ICEA estimates, mobile phone exports from India have doubled to over ₹90,000 crore or about $11.12 billion in FY2022-23 from ₹45,000 crore in 22.
The government expects mobile players to export devices worth Rs 1,00,000 crore this year.
The government has set a target of achieving $300 billion worth of electronics manufacturing by 2025-26, with $120 billion expected to come from exports. Mobile phones are expected to bring in more than $50 billion in exports by 2025-26.
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