India Emerges as 3rd Largest Exporter in Smartphone Market

India’s ascent from the 23rd position in global smartphone exports in 2019 to securing the 3rd spot in 2024 marks a monumental achievement in its manufacturing and export capabilities. With smartphone exports crossing ₹20,000 crore in November 2024, this growth highlights India’s success in leveraging government initiatives and a robust domestic production ecosystem.

Key Highlights

Growth in Smartphone Exports

  • India’s smartphone exports increased by 92% in November 2024 compared to the same month last year.
  • Exports in November 2024 reached ₹20,395 crore, a sharp rise from ₹10,634 crore in November 2023.

Government Initiatives Driving Growth

  • Production-Linked Incentive (PLI) Scheme: Aimed to boost local manufacturing and reduce import dependency.
  • PLI targets for 2024-25 include exporting 70-75% of the total production value.
  • Support for domestic and international companies to establish manufacturing units in India.

Achievements Under the PLI Scheme

  • Ambitious export targets surpassed, reflecting the scheme’s success.
  • Enhanced competitiveness of Indian-made smartphones in global markets.

Economic Impact

  • Boost to the Indian economy through increased foreign exchange reserves.
  • Creation of jobs in manufacturing, supply chains, and allied sectors.
  • Improved trade balance through higher exports.

Future Outlook

  • Continued investment in technology and manufacturing infrastructure.
  • Focus on innovation and competitive pricing to attract international buyers.
  • Strengthening India’s position as a global hub for smartphone production.
Summary/Static Details
Why in the news? India Emerges as 3rd Largest Exporter in Smartphone Market
Global Rank 3rd Largest Smartphone Exporter
Previous Rank (2019) 23rd
Export Value (Nov 2024) ₹20,395 crore
Growth Over Nov 2023 92% Increase (₹10,634 crore in Nov 2023)
Government Initiative Production-Linked Incentive (PLI) Scheme
PLI Export Target (FY 2024-25) 70-75% of Total Production Value
Economic Impact – Boost to foreign exchange reserves

– Job creation in manufacturing and allied sectors

– Improved trade balance

Factors Driving Growth – Government policies (PLI Scheme)

– Growing domestic manufacturing base

– Increased investment in infrastructure and technology

Future Focus – Strengthen global market position

– Innovation and competitive pricing

– Attract international buyers

Shivam

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