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Mobile exports from India likely to increase four-fold to reach Rs 90,000 crore

Mobile exports from the country have reached around Rs 50,000 crore in the current financial year. It is likely to be four times as compared to the previous financial year. In the financial year before Corona, this figure was around Rs 22,500 crore. In the current financial year, it can increase four times.

Anurag Jain, Secretary, Department of Industry and Internal Trade (DPIIT) Told, “Mobile exports from the country were Rs 22,500 crore in the financial year 2020-21 and it has increased to about Rs 45,000 crore in 2021-22. This year it has crossed Rs 50,000 crore.” The central government has approved incentives for two companies Foxconn and Padget Electronics this week under the Production-Linked Incentive (PLI) scheme. Both these companies will get incentives of Rs 357.17 crore and Rs 58.29 crore respectively. The high-powered committee under the Ministry of Electronics and IT considers the proposal for giving incentives. The committee includes NITI Aayog CEO Param Iyer, DPIIT Secretary Anurag Jain, Electronics and IT Ministry Secretary Alkesh Kumar Sharma and some other members.

Foxconn for iPhone in India for American smartphone company Apple and Padget Electronics for Motorola smartphones manufactures. Under PLI, incentives have been given to around 7,717 companies in 14 sectors so far. Under this scheme, the government gives incentives to companies to promote manufacturing and exports in the country.

Apple mainly exports the iPhone made in India to Europe and the Middle East. In the last financial year, the company exported smartphones worth around $1.3 billion from India. However, India’s share in the total production of iPhone is very less. The rise in exports is good progress for Prime Minister Narendra Modi’s plan to make the country an alternative to China as a production hub. Apple has been manufacturing most of its iPhones in China for many years. However, due to increasing difficulties in China, the company is planning to change this strategy and shift some part of production to other countries.

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