India’s mobile phone exports to jump 75% to $5.5 bn in FY2021-22: ICEA

“Mobile phone exports from India will increase by 75% from $US 3.16 billion in 2020-21 to over $US 5.5 billion in the current fiscal,” the handset industry body said, attributing this growth to the aforementioned scheme which is aimed at shifting global value chains (GVCs) to India and increasing India’s share in global exports.“This impressive performance comes in the backdrop of three devastating Covid waves, loss of workforce, lockdowns and the worst ever crisis on the supply chain, including acute scarcity of chips and semiconductors,” ICEA said.ICEA represents companies Apple, Lava, Micromax, Xiaomi, among others."Government led with its vision and trust in the mobile industry. The industry, in turn, has redefined Atmanirbhar Bharat as Make in India for the World,” said Pankaj Mohindroo, Chairman of ICEA.ICEA revealed that apart from the jump in exports on a year-on-year basis, India is now exporting mobile handsets to “some of the most competitive and advanced markets in Europe and developed Asia”.

Mindset of revenue authorities continues to be unfriendly at times:ICEA chairman

"The mindset of revenue authorities continues to be shrill and very unfriendly at times. If India has to be a great nation then there has to be trust and deep patriotism. That is required in each and every person."

See More DetailsIt has further projected that the export of electronic goods from India will rise to more than $15 billion in 2021-22 from $10.6 billion in 2020-21, which will be primarily led by an increase in exports of mobile phones. It is also expected to help allied industries like IT hardware, hearable and wearable devices, etc. which are currently import-dependent,To recall, under the PLI scheme for handset manufacturing, the government has allocated Rs.40,951 crores between 2020-21 and 2025-26, where participating companies are allowed to choose any 5 years out of the 6 years for meeting their production targets.The said PLI scheme saw participation from five global companies – Samsung, Foxconn Hon Hai, Rising Star, Wistron and Pegatron – and Indian companies, including Lava, Bhagwati (Micromax), Padget Electronics, UTL Neolyncs and Optiemus Electronics.During a 5-year period, the approved companies under the PLI scheme are expected to lead to total production of over Rs 10.5 lakh crores, of which nearly 60% will be contributed by exports to the tune of Rs 6.5 lakh crores. It is also expected that during this period, nearly 8 lakh new jobs (2 lakh direct and 6 lakh indirect jobs) will be created in the country.Follow and connect with us on Twitter, Facebook, Linkedin, YoutubeDevicesmobile phone exportsxiaomiPLI scheme for handset manufacturingPLI schememobile exports from Indiamobile exportsIndia Cellular & Electronics AssociationICEAApple

India’s mobile phone exports to jump 75% to .5 bn in FY2021-22: ICEA