Mobile phone export crosses USD 11 bn in FY23, Apple clocks 50 per cent share

NEW DELHI:   With iPhone maker Apple accounting for around half of the total mobile phone exports, handset exports from India reached close to $11.12 billion, according to industry body ICEA.

The India Cellular and Electronics Association (ICEA) said mobile phone export from the country has doubled to surpass Rs 90,000 crore, about $11.12 billion (91,000 crore) in the financial year 2022-23 (FY23) from Rs 45,000 crore in FY22. The government has set a target of $10 billion worth of mobile phone exports from the country.

ICEA Chairman Pankaj Mohindroo said, “No economy or sector in the economy can become a great and vibrant global economy without large exports. Riding on the 100% growth in mobile phone exports, which have crossed Rs 90,000 crore for FY 23, electronics exports have also grown by 58% to Rs 1,85,000 crore. It is satisfying that we have crossed the targeted figure of Rs 75,000 crore for the year.”

According to a PTI report, citing industry sources, Apple is estimated to have clocked 50% share with export of ‘made in India’ iPhones worth $5.5 billion, about Rs 45,000 crore while Samsung accounts for about 40% share with export worth Rs 36,000 crore. 

“With the doubling of exports of smartphones to more than $11 billion, India is well on its way to become a leader in the mobile device market of the world and play a major role in India’s electronic exports. This is a major win for PM Modijis Make in India program,” said telecom minister Ashwini Vaishnaw on record smartphone exports from India.

The government has set the target of achieving $300 billion worth of electronics manufacturing by 2025-26, with $120 billion expected to come from exports. Mobile phones are expected to contribute more than $50 billion worth of exports by 2025-26.