Export of mobile phones in India increased, it almost doubled to 5.5 billion US dollars in the month of August

Many mobile phones are exported to the country. Its exports had doubled in the month of August this year. Recently, industry body ICEA has released figures regarding this. According to ICEA estimates, by August this financial year, mobile phone exports from India almost doubled to US $ 5.5 billion, or about Rs 45,700 crore.

Regarding this, ICEA said that between April and August 2023, the export of mobile phones from India was worth 3 billion US dollars i.e. about Rs 24,850 crore. At the same time, Apple exported mobile phones worth more than Rs 23,000 crore, which is a little more than half of the total exports.

This information is not completely true as an email query sent to Apple did not receive any response.

ICEA President Pankaj Mohindroo told the agency that mobile phone exports from India are continuing the overall trend of sluggish global trade by registering a massive growth of over 80 percent. India is working hard to become the preferred destination for GVCs. Work on this is in progress but the trend is positive.

According to ICEA estimates, mobile phone exports from India are expected to double to more than Rs 90,000 crore, or about US$11.12 billion, in the financial year (FY) 2022-23 from Rs 45,000 crore in FY22.

On this, the government hopes that mobile phone companies will export mobile phones worth Rs 1 lakh crore this year. The government aims to achieve electronics manufacturing worth US$300 billion by 2025-26. Of this, US$ 120 billion is expected to come from exports. Mobile phone exports are estimated to contribute more than US$50 billion by 2025-26.