Winning Bizness Desk
Mumbai. China and Vietnam are considered to be the largest sellers of smartphones in the world and known as the hub of manufacturing. But this situation seems to be changing now as India has made a big leap in exporting smartphones. With the growth of 83% of smartphone exports from the country during this financial year, this figure is expected to reach $ 5.6 billion or Rs 42,000 crore this year. Whereas last year, smartphones worth Rs 23,000 crore were exported from the country.
Production Linked Incentive does it all
The reason behind this is the Government's Production Linked Incentive (PLI) scheme. Smartphones made in India are being exported to many developed countries of the world. Under this, the central government encourages extra production and will allow companies to export products made in India. The goal of the PLI scheme is to encourage investors to create a competitive environment.
Apple and Samsung benefit the most from PLI
America's giant tech company Apple and South Korea's Samsung have benefited the most from this scheme. Along with this, India has also emerged as a major hub of smartphone manufacturing in the world along with China and Vietnam. Four years ago i.e. in 2017-18, the export of smartphones from the country was only Rs 1,300 crore. It increased to Rs 11,200 crore in 2018-19 and then went up to Rs 27,200 crore in 2019-2020.
Apple's exports will be worth Rs 12,000 crore
Apple and Samsung account for the largest share of smartphones exported from India. It is believed that Apple's exports are expected to increase to Rs 12,000 crore. In this, models like iPhone SE, iPhone 11 and iPhone 12 have an important contribution. Similarly, Samsung's exports are also expected to increase to Rs 20,000 crore.
Covid had hit the supply
Smartphone exports from the country were affected due to production and supply related difficulties due to the Corona epidemic. In the financial year 2020-21, it was Rs 23,000 crore. The electronic market is currently facing many difficulties. These include the lack of a semiconductor chip. Along with this, the market has also been affected due to lockdown and many other restrictions. In such a situation, the boom in the export of smartphones from India is being seen as an example.
Smartphones is showing great growth
Many important components of smartphones are supplied from China but relations between India and China have not been good in the recent past. This is the reason why the supply of many components from China is closed or very slow. Pankaj Mahindra, chairman of the Indian Cellular and Electronics Association (ICEA), an industry-related organization, said that despite the three waves of corona, reduction in workforce, lockdown and the worst crisis in the supply chain, the export of smartphones is showing great growth.