ENA Sectors 2025-02-19 13:01:53 <p><span style="font-size:14px"><strong>New Delhi, Feb 19 (KNN)</strong> India's mobile phone manufacturing sector has achieved unprecedented success, with exports reaching a record Rs 1.5 lakh crore in January 2025, marking a dramatic increase from Rs 22,868 crore in fiscal year 2021. </span></p> <p><span style="font-size:14px">This remarkable growth demonstrates the significant impact of the government's Production Linked Incentive (PLI) scheme on the industry's expansion.</span></p> <p><span style="font-size:14px">According to the India Cellular and Electronics Association (ICEA), domestic mobile phone production has experienced substantial growth, doubling from Rs 2.2 lakh crore in FY24 to Rs 4.22 lakh crore. </span></p> <p><span style="font-size:14px">Industry projections indicate further expansion, with production expected to reach Rs 5.1 lakh crore in the financial year 2025. </span></p> <p><span style="font-size:14px">The ICEA forecasts mobile phone exports to climb to approximately Rs 1.8 lakh crore in FY25, representing a 40 percent increase from the previous fiscal year's exports of Rs 1.29 lakh crore.</span></p> <p><span style="font-size:14px">The implementation of the PLI scheme has been particularly transformative, catalysing an extraordinary export growth of over 680 percent since its inception in FY21. </span></p> <p><span style="font-size:14px">The United States has emerged as a crucial market for Indian smartphones, underlining the sector's growing international presence and competitiveness.</span></p> <p><span style="font-size:14px">ICEA Chairman Pankaj Mohindroo emphasised the critical nature of maintaining this momentum while acknowledging the industry's achievements. </span></p> <p><span style="font-size:14px"> We have reached a substantial scale, driven by strong government support and our industry's robust capability, Mohindroo stated. He further cautioned against complacency, noting that the industry must act decisively to capitalise on current opportunities within a limited timeframe, particularly given the evolving geopolitical landscape.</span></p> <p><span style="font-size:14px">The remarkable growth in mobile phone manufacturing represents a successful partnership between government policy and industrial capability, according to the ICEA. </span></p> <p><span style="font-size:14px">The association highlights that this achievement demonstrates India's ability to produce smartphones meeting global standards. </span></p> <p><span style="font-size:14px">Furthermore, smartphones are positioned to become India's leading export commodity for the first time, marking a significant transformation in the nation's manufacturing capabilities and export profile.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span><br /> </p> 41119 https://knnindia.co.in/news/newsdetails/sectors/mobile-phone-exports-hit-record-rs-15-lakh-cr-in-jan-2025-icea 2025-02-19 13:01:53 knnindia.co.in