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.
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 |
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