New Delhi: Bharat has witnessed a remarkable upswing in Smartphone exports, with a 99 percent increase during the April-July period of the current financial year compared to the previous year. The surge in demand has propelled the revenue to an impressive $415 crore (Rs 34,500 crore). Notably, the United States and the United Arab Emirates (UAE) stand out as India’s largest markets for Smartphone exports, with significant contributions from the Netherlands, the United Kingdom, and Italy.
It is significant to highlight that Smartphone exports to the UAE have surpassed those of petroleum products. In the period from April to July, Bharat sent smartphones valued at $83.63 crore (Rs 6,950 crore) to the UAE, marking a notable increase of 25.7 percent. In comparison, exports of aviation fuel amounted to $72.33 crore (Rs 6,000 crore), while petrol exports were limited to $55.16 crore (Rs 4,600 crore) during the same timeframe.
The United States, a key market for Indian Smartphones, recorded an extraordinary growth of 489.4 percent in Smartphone exports during April–July compared to the corresponding period in the previous year. This surge translated to Smartphones worth $167 crore reaching the US from Bharat, equivalent to around Rs 13,900 crore. In the fiscal year 2022–23, Bharat’s revenue from Smartphone exports reached $1,090 crore (Rs 90,000 crore).
Corporations, including Apple, have increased their manufacturing activities in India, contributing positively to export growth. The Production-Linked Incentive (PLI) scheme, initiated by the central government to boost production within the country, has undergone enhancements. The primary objective of this scheme is to offer incentives to companies engaged in domestic production. Efforts will be made to attract foreign companies to establish their units in India while simultaneously encouraging local companies to expand their current manufacturing capacities. This strategic approach aims to generate additional employment opportunities and diminish reliance on imports.
