Categories
News

Make in India: Growth of 700% in Exporting Smartphone

Modi government’s ambitious ‘Make in India’ program is beginning to show its impact. Since the launch of this campaign, not only the production of electronics goods has doubled in five years, rather India is emerging as an exporter of Smartphones. Smartphone exports from India are being made to the United Arab Emirates, Russia, South Africa and China. Smartphone exports have increased 700 percent in a year.

This information has been published in the Reserve Bank of India (RBI) annual report 2018-19. It has been said that mobile phone handsets and components manufacturing has emerged as a flagship sector along with Make in India. The import of mobile phones has reduced due to the production of domestic mobile phones.

According to the report, the export of smart phones from India was just $ 200 million in FY 2017-18, which increased to $ 160 million in FY 2018-19. Meanwhile, according to the latest data from the Ministry of Commerce, smartphone exports from India have crossed $ 1 billion during the first four months (April-July) of the current financial year.

It is believed that it will reach a record level by the end of the financial year. The report also mentioned that the production of electronics goods in the country was valued at $ 31.2 billion in 2014-15, which has increased to $ 65.5 billion in FY 2018-19. The share of mobile handsets in this has increased from $ 3.1 billion to $ 24.3 billion.

Significantly, India is able to meet only one-third of the demand for electronics goods from domestic production. The remaining demand is met through imports. Electronic items account for around 10 percent of the country’s total imports.