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They added that at the current pace, exports from the world's second-largest smartphone market will surpass the entire FY22 figure by early December itself, and end FY23 in the $8.5-9 billion range. The country had exported mobile phones worth $5.8 billion in FY22.
After touching a record $1 billion in September, mobile phone<\/a> exports had come down marginally in October, to around $900 million, due to slowdown in global markets, the officials said.
Backed by the production-linked incentive (PLI<\/a>) scheme, Apple and Samsung contribute over 90% of India's mobile phone exports. Officials say iPhone 12, 13 and 14 are exported from India, along with Samsung Galaxy A and M series.
According to industry body India Cellular and Electronics Association (ICEA), as exports grow, India has also reduced dependency on mobile imports to around 5% in FY22, from as high as 78% in 2014-15. Imports in FY23 are expected to fall to around 4%.
Incentives Boost
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Pankaj Mohindroo, chairman, ICEA, said the PLI scheme is helping India take initial steps towards transforming into a global hub for smartphone manufacturing and exports. \"We need to be vigilant against any inadvertent or adverse policy surprises that can deter investor sentiment in favour of competing destinations, such as Vietnam, Thailand or Mexico. Competitiveness and investor confidence are key to our success,\" he said.The main participants in the smartphone PLI scheme are Apple's three contract manufacturers - Foxconn Hon Hai, Pegatron (both Tamil Nadu) and Wistron (Karnataka) - and Samsung (Uttar Pradesh).
Indian companies Lava, Dixon and Bhagwati (Micromax) are also participants in the scheme.
Rising Numbers<\/strong>
According to ICEA, the surge in exports amid rising local production is a far cry from 2014-15, when - following the 2G debacle and Nokia plant shutdown - cellphone production fell to a mere Rs 18,900 crore, with near zero exports. This is expected to rise to Rs 3.25 lakh crore in 2022-23.ICEA data shows mobile phone exports constituted just around 1% of production in 2016-17, which increased to over 16% in 2021-22 and is expected to rise to around 22% of production in 2022-23.To boost exports further, the industry has also formed the Mobile Electronic Devices<\/a> Export Promotion Council in collaboration with the ministries of commerce and electronics & IT.
Between 2017-20, India used the phased manufacturing programme to address import substitution. After that, the government shifted gear to target exports and global supply chains with the launch of India's first and flagship Rs 40,995-crore smartphone PLI scheme in 2020. This was a bid to wean away smartphone makers from major hubs such as China<\/a> and Vietnam.
Backed by the scheme, India is trying to catch up with the two countries that still lead the world in mobile phone exports. India aims to export $60 billion of cellphones by 2025-26.