New Delhi, Aug 24 As domestic manufacturing gains momentum, exports of mobile phones witnessed a 250 per cent growth in April-June, compared to the same period of the last fiscal, said the India Cellular and Electronics Association (ICEA).
Mobile phone exports for the first quarter of 2021-22 was valued at Rs 4,600 crore compared to Rs 1,300 crore in 2020-21.
The massive year-on-year growth in exports can also be attributed to the impact of the first wave of Covid-19 and the nation-wide lockdown during the corresponding period last year.
Pankaj Mohindroo, Chairman, ICEA said: "The mobile handset manufacturing industry is continuing its growth juggernaut and its historic journey to meet its objective of becoming the world's number one manufacturing destination in sync with the Prime Minister's vision."
Despite second wave of Covid-19 pandemic, Mohindroo said, prudent policy of GoI to continue the manufacturing and backed by the production-linked incentive (PLI) scheme, industry has made significant progress in manufacturing and exports.
Electronic goods export has also shown a tremendous rise of 100 per cent (YoY) in Q1 2021-22 crossing the mark of Rs 20,000 crore, he said.
The ICEA Chairman noted that there is a sharp decline in the imports of mobile phones to a minuscule Rs 600 crore during the first quarter of 2021-22 which was Rs 3,100 crore for the same period in 2020-21.
We are pleased to share that the industry is showing impressive growth defying all the odds during these difficult times and is on a path of regaining the momentum as envisaged in NPE 2019," said Mohindroo.
Imports in laptops and tablet category have shown more than 50 per cent increase in the first quarter, from over Rs 6,000 crore in 2020-21 to Rs 10,000 crore in 2021-22.
"Our endeavour is to replicate the success of mobile phone manufacturing in India to 'IT Hardware' (Desktops, Laptops and Tablets). We are working with the government to create suitable policy intervention to support and create an Ecosystem to build large-scale manufacturing of these products in India and cater to at least 25 per cent of the global requirement," he added.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor