Mobile phone exports of India may touch $9 billion this year

6 Dec 2022 , 01:46 PM

In FY23, India’s mobile phone exports are expected to touch $9 billion. This will be a significant increase from $5.8 billion of mobile phone exports in the previous year.  The massive disruption of mobile phone manufacturing in China caused by Covid lockdowns of Chinese government is one factor that is helping in increasing India’s mobile phone exports.

Indian government’s Production Linked Incentive (PLI) scheme is another factor that may be helping in increasing mobile phone exports. This scheme is giving incentives between 4% and 6% of incremental sales, to companies that are setting up their mobile phone production units in India. Government is also giving a boost to mobile phone manufacturing because it can generate significant number of well-paying jobs in the country. A higher level of domestic production means that the country is also able to export more.