India sets ‘new record’ in mobile exports | Gadgets NowIndia sets ‘new record’ in mobile exports

Mar 21, 2023

BY: Gadgets Now Bureau

India sets ‘new record’ in mobile exports

The big numbers

India’s mobile phone exports crossed $2 billion (over Rs 16,500 crore) in the first two months of 2023, according to ICEA data made available exclusively to ET.

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Apple, Samsung lead

The numbers are driven mainly by Apple and Samsung.

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Nearing $10 billion

The numbers take the total export value to over $9 billion since April 2022.

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Doubled over last year

Smartphone exports in the April 2022-February 2023 period have doubled from the corresponding period a year ago.

Source: Gadgets Now

Last year numbers

The same hovered around $4.5 billion, according to ICEA.

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Fiscal bump

Smartphone exports for the fiscal year ending March 31 is also expected to roughly double from $5.8 billion in the year before.

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PLI boost

According to the data, India’s smartphone makers are now clocking around $1 billion in exports every month from September 2022, primarily boosted by the production-linked incentive (PLI) schemes.

Source: Gadgets Now

Apple share

Apple's contract manufacturers — Foxconn Hon Hai, Wistron, and Pegatron — accounted for around 55% of this number

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Samsung share

Samsung made up for the remaining 35%.

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Others' contribution

The rest of the exports came from merchants exporting specific handset models to other regions where there is a price arbitrage.

Source: Gadgets Now

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