Export of smartphones from the country is Rs. Crossing 50,000 crores

MUMBAI: While exports from several sectors of the country have declined or remained flat in the current year, smartphone exports have crossed the Rs 50,000 crore mark in the April-November period of the current financial year, which is 110 percent higher than the same period last financial year.

In FY 2022, the overall smartphone exports from the country stood at Rs 45,000 crore. India's smartphone exports are mostly to Asian countries except Europe, West Asia and China.

The smartphone PLI scheme announced by the government in 2020 is believed to have supported export growth.

Due to the increase in the export of smartphones, the electronics sector has taken the lead in the goods exported from the country. Till 2018, electronics was the 10th largest export of the country and now it has moved up to the sixth position.

Government sources said that the electronics segment is likely to make it to the top five export sectors by the end of the current financial year.

He also claimed that due to the PLI scheme, Indian products are becoming competitive in the world market. Since April 2020, the government has announced 14 PLI schemes, most of which have been implemented since 2021.