Tech

Mobile exports can reach $10 billion in 2023 with PLI support


NEW Delhi : Mobile phone exports from India could reach $9-10 billion in 2023 led by Samsung and Apple, industry insiders and experts say. In the past few months, exports have hit the $1 billion mark per month, and the trend is likely to continue in the next quarter, a senior industry executive said. Most of these exports are done by Samsung and Apple.

“Last year, smartphone exports were at $45,000 crore, this year we surpassed that and made about 1 billion dollars a month. At this rate, we can reach $9 billion this year,” said Pankaj Mohindroo, President of the Electronics and Mobile Association of India representing handset manufacturers in the country.

According to data from Counterpoint Research, from January to November this year, exports grew 23% year-on-year, and the double-digit growth is likely to continue in the remaining months, thanks to the link between production and sales. export. incentives provided by the government.

Prachir Singh, senior analyst at Counterpoint Research, said: “The main factor contributing to the increase in exports is that the PLI program has benefited manufacturers and brands, while boosting the ecosystem. overall state of production”.

The increase in exports comes at a time when shipments of Indian-made smartphones fell 8% year-on-year for the first time from July to September, reaching more than 52 million units, mostly due to weak consumer demand in the context of economic and market difficulties. uncertainty due to geopolitical changes, according to Counterpoint data. In India’s smartphone manufacturing ecosystem, 63% of shipments come from domestic manufacturers and 37% from third-party electronics manufacturing service providers such as Bharat FIH, the manufacturing company. Made for Xiaomi and Dixon Technologies but also for Samsung. OPPO has the largest market share in smartphone shipments made in India with 24% market share, followed by Samsung and Vivo. Oppo makes phones for its own OPPO, Realme, and OnePlus brands.

“We will continue to see PLI disbursements in the coming quarters, which will add to the local manufacturing landscape. Overall, the manufacturing trend is seeing an upward trajectory, with many partnerships taking place in recent months, such as those between Tata Group and Wistron and between Foxconn and Vedanta ,” the company’s analysts said in a note Tuesday.

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