India to cross Rs 1,20,000 cr in mobile exports in FY24, Apple to surpass 50% share: ICEA

NEW DELHI: India is set to cross Rs 1,20,000 crore in mobile phone exports in the current fiscal year drivenbytechgiantAppleontheback of friendly Government policies and production-linked incentive (PLI) scheme, the country's top electronics industrybodytoldnewsagencyIANS.

India Cellular and Electronics Association (ICEA) said that mobile phone exports have already registered a massive 128 per cent growth in the months of April-May thisyear.

Pankaj Mohindroo, Chairman, ICEA said, "Mobile phone exports growth in 2023-24 have bucked the trend of falling exports with a growth of 128 per cent in the first two months of2023-24."

"We are confident of crossing Rs 120,000 crore in this financial year comparedtoRs90,000croreinthelast financial year which was a phenomenal 90 per cent growth," Mohindrooadded.

According to the ICEA, Apple's share is set to exceed 50 per cent in FY24.InMay,iPhoneexportsreached a record Rs 10,000 crore, pushing the total mobile shipments from the countrytoRs12,000crore.

The Country surpassed a remarkable Rs 90,000 crore worth of smartphone exports in the fiscal year 2022-2023.