India’s Mobile Phone Exports Hit $9.5 billion in February

India’s Mobile Phone Exports Hit $9.5 billion in February

Mobile phone exports from India increased to nearly $9.5 billion in February, with Apple contributing half of the total exports, said mobile devices industry body India Cellular and Electronics Association (ICEA) on March 22.

A senior official at the industry body said the industry is on track to cross the target of mobile phone exports worth $10 billion from India by the end of this financial year. Till January 31, the exports were around $8.5 billion, and it is estimated to have reached about $9.5 billion in February, the official added. In 2021-22, the country recorded mobile phone exports worth $5.5 billion, according to the ICEA data.

Apple now dominates the exports with 50 percent share followed by Samsung with around 40 per cent share. The other smartphone companies constitute the remaining 10% export share.

“The mobile phone industry will cross $40 billion manufacturing output and 25 percent exports at $10 billion is a stellar performance,” affirmed Pankaj Mohindroo, Chairman, ICEA.

India has more than 260 units manufacturing mobile phones and accessories today, while it had only two units operational in 2014. The mobile phone production in the country increased from 5.8 crore units valued at about Rs 18,900 crore in 2014-15 to 31 crore units valued at over Rs 2,75,000 crore in the last financial year.