India will likely export mobile phones worth $9 billion in the current financial year, a jump from $5.8 billion in FY22. The major push in phone manufacturing has been provided by Samsung and Apple, which together account for half of the phones manufactured in India.
Â
According to industry body India Cellular and Electronics Association (ICEA) data, total electronics manufacturing in India will rise to $300 billion by FY26. From $87 billion in FY22, the total manufacturing of electronics will be at $100 billion.
Â
Rajeev Chandrasekhar, Minister of state for electronics and IT, said, “Early on in 2021, we sat with the industry and worked out this $300 billion roadmap...One of the key things of the target was significantly expanding exports to go from the current $18-20 billion to $120 billion by FY26. This fiscal, mobile phone exports are expected to reach $9 billion.”
Â
Out of the total, phone exports have already crossed the $5 billion mark, nearly twice more than last year’s $2.2 billion. In 2020, the government had launched the Rs 41,000 crore Production-linked Incentive (PLI) scheme for smartphone manufacturing.
