India's export of smartphones has doubled to more than $11 billion in the financial year 2022-2023, India Cellular and Electronics Association (ICEA) said.
Union Minister of Railways Ashwini Vaishnaw has said that India is well on its way to becoming a leader in the mobile device market of the world with the doubling of smartphone exports to more than $11 billion.
“With the doubling of exports of smartphones to more than $11 billion, India is well on its way to become a leader in the mobile device market of the world and play a major role in India’s electronic exports. This is a major win for PM Modiji’s Make in India program,” Vaishnaw said.
Vaishnaw said that this was a significant step in Prime Minister Narendra Modi’s Make in India programme.
According to the India Cellular and Electronics Association (ICEA) mobile phones export from India surpassed Rs 90,000 crore in the financial year 2022-2023 from Rs 45,000 crore in 2022.
“No economy or sector in the economy can become a great and vibrant global economy without large exports. The mobile phone export juggernaut continues. Riding on the 100 per cent growth in mobile phone exports, which have crossed Rs 90,000 crore for FY 2022-23, electronics exports have also grown by 58 per cent to Rs 1,85,000 crore. It is extremely satisfying that we have crossed the targeted figure of Rs 75,000 crore for the year,” ICEA Chairman Pankaj Mohindroo said.The government aims to achieve $300 billion worth of electronics manufacturing by 2025-2026, with $120 expected to come from exports.