NEW DELHI:  India is on track to hit a stunning USD 10 billion (about Rs 82,000 crore) worth of smartphone exports in the fiscal year ending March 31, according to industry figures released on Wednesday. Thanks to enticing government incentives for domestic production.

The India Cellular and Electronics Association (ICEA) reports that 50% of all exports are now made up of Apple's "Made in India" smartphone. Samsung comes in second with 40% of mobile exports, while other smartphone manufacturers account for 10% of exports.

India's exports of smartphones have more than doubled since the same time period in the previous fiscal year, thanks in large part to production-linked incentive (PLI) programmes.

As per ICEA data, India now exports mobile phones to the United Arab Emirates, the United States, the Netherlands, the United Kingdom, and Italy in that order.

There have been rumours this year that Tim Cook's Apple may fast move some of its China-based manufacturing to India and Vietnam over the course of the following two to three years. By 2027, India is anticipated to supply 45-50% of Apple's iPhones, matching China's production of 80-85% of iPhones in 2022.

Indian and Vietnamese economies are expected to benefit the most from the shift of the smartphone supply chain away from China, according to estimations by DigiTimes research analysts. By the end of 2022, India would have produced 10–15% of the world's iPhones.

In the month of December, Apple became the first smartphone manufacturer in India to export iPhones valued at USD 1 billion. The 12, 13, 14, and 14 Plus iPhones are now produced there.

In order to increase its worldwide market share in hearables and wearables, IT hardware and electronic components, among other products, the government is also trying to enhance the ecosystem of electronic manufacturing beyond mobile devices.

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