Business

Effect of PM Modi’s vision, 45000 crore phones started being exported from India. PM Modi Vision Effect 45000 Crore Mobile Phone Exports Started From India

To promote the Electronics Manufacturing Ecosystem, the government will take all necessary measures in the country and will consider increasing the manufacturing base beyond mobile phone manufacturing in 2023.

Effect of PM Modi's vision, 45000 crore phones started being exported from India

Mobile Phone Export

Image Credit source: File Photo

Mobile Phone Export : Prime Minister Narendra Modi wants mobile phones to be the top 10 exports from India in 2023 with the segment coming in the top 10 export category. Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar said that for this all measures will be taken to further improve the electronics manufacturing ecosystem. The government will take all necessary measures to boost the electronics manufacturing ecosystem in the country and will consider expanding the manufacturing base beyond mobile phone manufacturing in 2023. He said that Prime Minister Modi’s vision for 2023 is to export mobile phones worth Rs 1 lakh crore, which includes mobile phones in the top 10 export categories.

The dominance of these companies

Let us tell you that India is continuously moving forward in the mobile phone export sector, mobile exports from here are about Rs 45,000 crore and it was dominated by two companies Apple and Samsung. The minister said the government is working to broaden the electronics manufacturing ecosystem beyond mobile phones to increase share in the hearables and wearables segment, IT hardware, electronic components, etc.

According to a study by electronics component makers body ELCINA, the demand for components in the year 2020-21 was USD 32 billion (about Rs 2.65 lakh crore) for an industry worth about $70 billion (Rs 5.8 lakh crore) and of this, barely 10 The US$ billion (Rs 82,000 crore) worth of electronics was manufactured locally with mostly imported raw materials.

While the minister did not elaborate on the specific measures. Official sources said that the government is considering bringing an incentive scheme related to this to promote local production.

The country moving forward in the field of mobile phones

The minister told that we are going to complete the successes of our mobile phones by broadening and deepening the ecosystem. There has been intense strategy in the semiconductor space. It is very clear that we want to do more in our component industry. The country is moving forward in the field of mobile phones. We want to do well in the IT Server, IT Hardware, Hearables and Wearables segment.

These brands made global hold

Indian brands BOAT and BOLT have become the top selling brands in the world in the hearables and wearables segment. According to market research firm Research and Markets, the Indian server market was valued at USD 1.6 billion in 2022 and is expected to grow at a compound annual growth rate of 7.19 percent.

14 companies selected for IT hardware manufacturing

Chandrasekhar said that we want to increase our market share in IT hardware and servers. We are a very small player in that field today. We aim to increase our market share in components and global market share in hearing aids. It is the prime minister’s goal and objective that in all these areas, we seek to be a valued trusted partner to global enterprises and consumers.

If it requires any additional PLI or policy, we will definitely do it. Under the PLI scheme for IT hardware, the government had selected 14 companies to manufacture IT hardware, including Dell, Rising Stars, Flextronics Technologies, Lava International, Dixon Technologies etc.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top