India's smartphones exports crossed $10B in FY22

India's smartphones exports crossed $10B

India's mobile phones market is growing significantly. India has now emerged as the top manufacturing hub for smartphones. India has become the world's second largest mobile manufacturer. For 2023, the government is planning to reach 1 lakh crore mobile phones exports. According to the latest India import export data, around 85,000 crores worth of mobile phones exports were recorded from India in FY 2023.

Due to the impressive initiatives taken by the Indian government like PLI schemes had helped Indian local mobile manufacturing grow in FY 2022. As per the last year India customs data reports, Indian mobile phones exports hit a record 10 billion dollars during the financial year 2022. Around 90% of India’s  total sold mobiles were manufactured in the local market. 


India's mobile phone exports are growing in the top markets like the USA, UAE, Netherlands, Italy and the United Kingdom. Top Industrial experts from India predict that the Indian mobile phone production could hit 40 billion dollars. Whereas, India's mobile phones exports could see 25% increase by the end of this year.


India's mobile exports are mostly dominated by Apple and Samsung. Apple and Samsung currently share over 45% of India's total mobile exports. As the leading mobile manufacturing companies are shifting their bases in India, India is posing stiff competition to China. India and Vietnam could replace China as the major manufacturing hub.


Currently, around 80% of the Iphones were produced in China during the fiscal year 2022. By 2027, India is likely to produce 50% Apple Iphones. Apple is the only smartphone brand which has exported over 1 billion dollars worth of iphones during December 2022.


Over the last year, India has done well in various electronics segments. Currently, there is a huge demand for electronic components. According to the India import data, the demand for the electronic components was estimated around 32 billion dollars.


In the wearable and hearable sectors, India has built a great presence. Indian brands like Boat and Fire-Boltt have emerged as the top selling brands across the global market. 


Whereas, the Indian IT sector had done tremendously well. According to the India export data, the Indian server market was estimated around 1.6 billion dollars during fiscal year 2022. Experts are expecting 7% growth in the Indian server sector. The government has selected a few hardware companies for incentives under the PLI scheme. These include Dell, Lava International, Dixon Technologies, Rising Stars, Flextronics etc.


As the global market is suffering from the shortage of mobile phones components and accessories, an expert market intelligence platform like Exim Global import export data provider can help you find verified electronic components suppliers from the global market. Here, you can discover top exporters of mobile phones parts, accessories, wearables, mobile phones and hearables by hs code, price, country, importer and exporter. 


Through Exim Trade Data Intelligence Platform, Companies can import quality components and expand their mobile manufacturing. Also, through import export data reports of over 200+ countries, you can find genuine business leads to excel your business and contribute to the Indian economy.

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