India, which was once an importer of smartphones, has now, on the contrary, become the leading smartphone exporter in the world. Smartphones have now become the fourth largest item exported from India. It has increased by 42 percent to $15.6 billion in FY 2024, which is one place higher in the ranking than last year. According to Business Standard news, India started collecting data separately for smartphones from April 2022.
Smartphones have replaced motor gasoline
India’s top export items are dominated by petroleum products, with smartphones replacing motor gasoline to become the fourth largest exported item in FY2024, according to the news. According to Commerce Department data, the surge in smartphone exports was driven by a 158 percent increase in shipments to the US, which stood at $5.6 billion, followed by the UAE ($2.6 billion), the Netherlands ($1.2 billion) and the UK ($1.1 billion). ) was ranked.
Value of mobile devices produced in India
The value of mobile devices produced in India for both export and domestic markets is expected to rise to Rs 4.1 trillion ($49.16 billion) in fiscal 2024, up at least year-on-year, according to early estimates by the Indian Cellular and Electronics Association. 17 percent more, which represents the majority of mobile players in the country. Smartphones have been a major success story of the government’s production-linked incentive (PLI) scheme, which has helped India become the second largest mobile phone manufacturing country after China.
Apple is at the forefront
Apple has been at the forefront of smartphone exports, with the value of exports of mobile devices expected to surpass Rs 1.2 trillion ($14.39 billion) in FY24, up 33 per cent from Rs 90,000 crore in FY23. Based on initial estimates, exports in FY24 were about 30 per cent of the total production value, rising to 25 per cent in FY23, according to ICEA data.
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