In accordance with industry body ICEA and industry sources, mobile phone exports from India reached close to $ 11.12 billion, with iPhone maker Apple accounting for roughly half of total exports.
According to the India Cellular and Electronics Association (ICEA), mobile phone exports from India will exceed Rs 90,000 crore ($11.12 billion) in fiscal year 2022-23, up from Rs 45,000 crore in FY22.
"No economy or sector in the economy can become a great and vibrant global economy without large exports. The mobile phone export juggernaut continues. Riding on the 100 per cent growth in mobile phone exports, which have crossed Rs 90,000 crore for FY 2022-23, electronics exports have also grown by 58 per cent to Rs 1,85,000 crore. It is extremely satisfying that we have crossed the targeted figure of Rs 75,000 crore for the year," ICEA Chairman Pankaj Mohindroo said.
The government has set a $10 billion export target for mobile phones from the country.
According to industry sources, Apple has a 50% market share with exports of'made in India' iPhones worth $5.5 billion (approximately Rs 45,000 crore).
According to sources, Samsung accounts for roughly 40% of the market, with exports worth Rs 36,000 crore.
"Third-party exports contributed approximately $1.1 billion to total exports." "These players export phones of all brands made in India," according to the source.
The government has set a target of $300 billion in electronics manufacturing by 2025-26, with $120 billion coming from exports. By 2025-26, mobile phones are expected to contribute more than $ 50 billion in exports.
Mobile phone exports now account for 46% of total electronic goods exports, according to the ICEA.