In terms of mobile phone exports, India is rapidly progressing and creating a record. India captures 50 percent of the total exports of China and Vietnam. A news package on that.
Production Linked Incentive PLI (PLI) schemes have contributed significantly to the country’s significant growth in production, employment, and exports.
The PRODUCTION LINKED INCENTIVES-PLI programs created by Prime Minister Modi with the aim of Atma Nirbar Bharat-Self-reliant India by 2020 are helping India’s economic development.
India’s mobile manufacturing and exports have seen unprecedented growth thanks to PLI, a production-linked incentive scheme implemented in 14 sectors.
According to a report by the International Trade Center, this year, mobile phone exports from China and Vietnam fell by 2.78 percent and 17.6 percent, respectively. At the same time, it is reported that India’s exports have increased by 40.5 percent.
The report also pointed out that India accounted for nearly 50 per cent of the total decline, with exports falling by a combined $9.4 billion to China and Vietnam.
Apple manufactures iPhone manufacturing devices under the PLI program. Apple iPhones are manufactured in Foxconn, Pegatron and Wistron factories. Thus, in the last two years, Apple’s iPhone production and exports from India have doubled.
According to data submitted to the Union Ministry of Electronics and Information Technology, Apple’s iPhone production increased to US$ 14 billion in the current financial year, while iPhone exports rose to US$ 10 billion.
India’s mobile phone exports stood at USD 15.6 billion. 65 percent of this is iPhone exports. It is noteworthy that this year, iPhone exports have increased to 29 billion US dollars. Also, iPhone exports account for more than a third of India’s electronics exports.
Thus, India has emerged as the second manufacturing base for iPhones after China. And India plays a major role in the international mobile phone market.
China’s mobile exports have been hit hard by US sanctions and bans on tech products from some Chinese companies such as Huawei.
Economists say that India’s emergence as an alternative to China’s manufacturing power has caused great concern for China.
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