India’s dominance in smartphone market increasing, exports expected to reach record level
New Delhi:
The value of India’s smartphone market is expected to cross $50 billion this year. Also, exports can touch 20 billion dollars in the current financial year. The reason for this is the increase in exports of ‘Made in India’ Apple iPhone. The country’s smartphone exports were more than $15 billion in fiscal year 2024 (of which Apple’s share was about $10 billion). According to industry estimates, this figure may cross $20 billion in this financial year.
Apple-Samsung lead among the companies exporting from India
Due to the increasing trend of premiumization and emphasis on local manufacturing, Apple and Samsung are at the forefront among the companies exporting from India. The Indian smartphone market is also rapidly evolving, with original equipment manufacturers (OEMs) focusing more on premium launches to strengthen brand equity, showcase technical capabilities and improve profits.
Getting benefits of PLI scheme
Due to the benefits of the Production Linked Incentive (PLI) scheme brought by the government to increase domestic manufacturing, the iPhone exports of the leading technology company Apple from India have touched the figure of Rs 1 lakh crore in the calendar year 2024.
According to government data, over the last four years, the Apple ecosystem has also created 1,75,000 new direct jobs, of which more than 72 percent of the positions have been filled by women.
Domestic mobile phone production to increase to 33 crore units in 2023-24
Domestic mobile phone production was 58 million units in 2014-15, which increased to 330 million units in 2023-24, while imports declined significantly. At the same time, exports reached 50 million units and FDI increased by 254 percent. , which shows the role of PLI scheme in promoting manufacturing and investment.
Estimated to create 1.2 crore jobs by 2027
It is estimated that 1.2 crore jobs will be created in the electronics sector in the country by 2027. Out of this, there will be 30 lakh direct and 90 lakh direct jobs.
According to a recent report by TeamLease Degree Apprenticeship, the direct employment opportunities include around 10 lakh engineers, 20 lakh ITI-certified professionals and 2 lakh positions in areas like AI, ML and Data Science. Apart from this, 90 lakh positions in non-technical sectors. Lakhs of indirect employment opportunities are expected to be created.
Target to achieve manufacturing worth 500 billion dollars by 2030
The electronics industry has set an ambitious target of achieving manufacturing worth $500 billion by 2030. To meet this target, the industry will have to increase its manufacturing capacity five times in the next five years. Currently, domestic electronics production is $101 billion, of which mobile phones contribute 43 percent, followed by consumer and industrial electronics. The share of electronic components is 12 percent and 11 percent.