India: Through attractive incentives by the government towards local manufacturing, India is all set to touch the remarkable number of $ 10 billion worth of rupees over Rs 82,000 crore exports of smartphones in the financial year ending on March 31st, reported IANS.
Under Apple’s ‘Make in India’ total smartphone exports now constitute around 50 per cent, as per the India Cellular and Electronics Association (ICEA). The second largest percentage is secured by Samsung, with 40 per cent of exports of smartphones, whereas other companies contribute around 10 per cent of the total export share.
From the last fiscal period, smartphone export has seen a doubled hike driven by production–linked incentive (PLI) schemes. India exports smartphones to various parts of the world. The top 5 locations include the United States of Emirates, the United States, the Netherlands, The United Kingdom and Italy, said ICEA.
On his part, Pankaj Mohindroo, Chairman of ICEA, recently told IANS that the maturity and efficacy of the industry are only evaluated with robust exports. The policies and outreach incentives of mobile phones have been relentless, which reflects all the results.
He also added that the industry of mobile phones is predicted to cross $40 billion in manufacturing output along with 25 per cent exports at around $10 billion is considered a stellar performance. In the next two years, Apple, led by Tim Cook, will quickly shift its manufacturing plants from China to India and Vietnam, said reports.
Meanwhile, by the year 2027, India is predicted to produce Apple’s iPhones between 40 to 50 per cent, and at par with China, iPhones between 80 to 85 per cent were produced in 2022. Furthermore, India and Vietnam are likely to become the largest beneficiaries of smartphone supply chain migration out of China, as per the estimates of DigiTimes analysts.
At the end of 2022, India accounted for 10-15 per cent of the iPhone’s overall production capacity. At the same time, Apple became the first smartphone company to successfully exported worth $1 billion iPhones in December month. Apple iPhones 12, 13, 14, and 14 Plus are currently being manufactured in India.
According to Mohindroo, the country is moving in a different direction, “which is largely export-focused and led by the government’s performance-linked scheme (PLI) push”.
The government is also working to strengthen the electronic manufacturing ecosystem beyond mobiles to boost its global share in hearables and wearables, IT hardware and electronic components etc.
