India to become leader in global mobile phone market: Ashwini Vaishnaw

Union minister Ashwini Vaishnaw said the country is on its way to becoming a global leader in the mobile device segment, with smartphone exports from India more than doubling to more than USD 11 billion. “With the doubling of exports of smartphones to more than USD 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 programme,” Vaishnaw said in a statement on Wednesday. According to the industry body India Cellular and Electronics Association (ICEA), mobile phone exports from India reached close to USD 11.12 billion with iPhone maker Apple accounting for around half of the total exports. Mobile phones exported from India have doubled to surpass Rs 90,000 crore, which is about USD 11.12 billion in the financial year (FY) 2022-23 from Rs 45,000 crore in 2021-22. According to the ICEA, Apple led mobile phone exports in 2022-23, with the top exporting destinations including the UAE, the US, the Netherlands, the United Kingdom, and Italy.
“”Without large exports, no economy or sector of the economy can become a great and vibrant global economy,” ICEA Chairman Pankaj Mohindroo said, adding, “The mobile phone export juggernaut continues.” On the back of a 100% increase in mobile phone exports, which have surpassed Rs 90,000 crore for FY 2022-23, electronics exports have increased by 58% to Rs 1,85,000 crore. It is extremely satisfying that we have exceeded our annual target of Rs 75,000 crore.”