Mobile device exports from India have reached a noteworthy milestone, totaling US$ 126.7 million (Rs. 10.5 billion) in the initial nine months of the current financial year (FY24).
With an additional three months remaining, industry projections from the Indian Cellular and Electronics Association (ICEA) suggest that the final fiscal year’s final export figures are anticipated to range between US$ 168.9 -181 million (Rs. 14-15 billion). This forecast reflects a substantial increase from the US$ 133.9 million (Rs. 11.1 billion) recorded in FY23.
Apple’s iPhone exports have significantly contributed to this surge, comprising nearly US$ 84.4 million (Rs. 7 billion) of the total export value. In aggregate, mobile phone exports to key markets such as the United States, Europe, select Asian regions, and West Asia have experienced a notable growth of 42% during the first nine months, compared to the corresponding period in the preceding financial year, where exports had amounted to US$ 88.1 million (Rs. 7.3 billion).
Notably, the zenith of monthly mobile exports in FY24 was achieved in December, reaching an impressive figure of US$ 16.6 million (Rs. 1.38 billion). This robust performance underscores the strength of India’s mobile device export sector, positioning it as a significant player in the global market.
