India's smartphone exports have increased by 83 percent

Today, we're going to share some exciting news from India with you. You will undoubtedly be pleased. China, Taiwan, and Vietnam are the world's largest smartphone sellers. These are regarded as manufacturing hotspots, but this appears to be changing. India has made significant progress in the export of smartphones. Smartphone exports from India are expected to reach $5.6 billion (Rs 42,000 crore) this fiscal year, an increase of 83% from the previous year. Last year, smartphones worth Rs 23,000 crore were exported from the country. The government's Production Linked Incentive (PLI) scheme is said to be the reason for this.

Smartphones made in India are exported to many developed countries around the world. Apple, an American technology company, and Samsung, a South Korean company, have benefited the most from this scheme. India has also emerged as a major global hub for smartphone manufacturing. Four years ago, in 2017-18, the country's smartphone exports totaled only Rs 1,300 crore.

India's smartphone exports have increased by 83 percent

You'll be relieved to know that it increased to Rs 11,200 crore in 2018-19 and then to Rs 27,200 crore in 2019-2020. Apple and Samsung account for the lion's share of Indian smartphone exports. Apple's exports are expected to rise to Rs 12,000 crore this year. This is helped by models such as the iPhone SE, iPhone 11, and iPhone 12. Samsung's exports are expected to rise to Rs 20,000 crore as well.

It was Rs 23,000 crore in the fiscal years 2020–21. The electronic market is currently facing numerous challenges. One of these is the absence of a semiconductor chip. Lockdowns and other restrictions have also had an impact on the market.

According to Pankaj Mahindra, chairman of the Indian Cellular and Electronics Association (ICEA), an industry body, there is a great boom in smartphone exports despite the three waves of workforce reduction, lockdown, and the worst supply chain crisis. Previously, smartphones from India were exported to South Asia, Africa, the Middle East, and Eastern Europe. Now, smartphones from India are exported to many developed countries around the world.

Companies are now concentrating their efforts on the most competitive and advanced markets in Europe and Asia. These markets have the highest quality demand, which is met by manufacturing units in India. The central government encourages extra production through the PLI scheme. It enables companies to export products manufactured in India.