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New Delhi. India’s mobile phone exports have got a big boost due to the Production Linked Incentive (PLI) scheme. India’s mobile exports have increased in FY24. At the same time, mobile exports of China and Vietnam have decreased. Railway, Information and Broadcasting and IT Minister Ashwini Vaishnav posted on social media platform X (earlier Twitter) and wrote that India’s focus is on ‘Make in India’ manufacturing and the PLI scheme is yielding good results.
The giant technology company Apple is continuously shifting the production of iPhones to India. Political stability and government policies supporting the industry play an important role in this. In the last financial year, India has regained half of its lost market (40.5 percent) from China and Vietnam.
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China’s mobile exports stood at $132.5 billion in FY24, up from $136.3 billion in FY23. On the other hand, Vietnam’s mobile exports declined to $26.7 billion in FY24 from $31.9 billion in FY23. India’s mobile exports declined to $16 billion in FY24 from $11 billion in FY23.
According to the Indian Cellular and Electronics Association (ICEA), in the financial year 2014-15, mobile phones worth Rs 18,900 crore were produced in India, which has increased to Rs 4.10 lakh crore in the financial year 24. There has been an increase of 2,000 percent in this.
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Electronics manufacturing is expected to reach $250 billion in the next five years. Currently, India’s electronics exports are around $125 to $130 billion. This is providing employment to around 12 lakh people.
first published : July 2, 2024, 12:33 IST
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