40 per cent rise in India's mobile phone exports

With growing smartphone exports, India is rapidly closing the gap with China and Vietnam. According to a report, mobile phone exports from China and Vietnam decreased by 2.78 per cent and 17.6 per cent respectively in FY24 compared to the previous year. In contrast, India’s mobile phone exports saw a significant increase of 40.5 per cent.
The report indicated that India has absorbed nearly 50 per cent of the decline in mobile phone exports from China and Vietnam. Although China continues to be the leading exporter of mobile handsets, India is showing notable progress.
Data from the International Trade Centre (ITC) shows that Chinese mobile phone exports fell from $136.3 billion in FY23 to $132.5 billion in FY24, marking a 2.8 per cent decrease, which translates to a $3.8 billion drop, the report noted.
 
Similarly, Vietnam’s mobile phone exports declined from $31.9 billion in FY23 to $26.27 billion in FY24, a 17.6 per cent decrease, amounting to a $5.6 billion drop. The combined reduction in exports from both countries totaled $9.4 billion.
According to reports, Apple Inc has significantly increased its iPhone exports from India, exceeding $2 billion in the first two months of FY25. This represents 81 per cent of India's total iPhone production worth $2.6 billion. In May, Apple again surpassed $1 billion in iPhone exports, mirroring its performance in April.
Under the production-linked incentive (PLI) scheme, the three Apple Inc vendors have a target to achieve a production value of $10.2 billion (including exports) in FY25. They have already reached 25 per cent of this target in just two months.