India set a new record by exporting cellphones more than $1 billion worth in september month

Monthly mobile phone exports from India touched the $1-billion mark (over ₹8,200 crore) for the first time ever in September. They were boosted by the government’s production-linked incentive (PLI) scheme, which has pushed global players such as Apple and Samsung to increase local production for the domestic as well as overseas markets.

According to data available, mobile phone exports for April-September more than doubled to $4.2 billion, from $1.7 billion in the corresponding period of 2021. Previously, the highest monthly export of cellphones was in December 2021, when devices worth $770 million were shipped. Exports hovered around $700 million each month during June-August this year.

The growth in exports is primarily driven by Apple contract manufacturers Foxconn, Wistron and Pegatron as well as Samsung; these companies are the leading global participants of the government’s Rs 40,995-crore PLI scheme announced by the government in April 2020.

Post a Comment