News Buzz

Over 8-fold growth in India’s mobile exports in 2018-19

Recent findings of the Indian Cellular and Electronics Association suggest that India’s mobile exports in 2018-19 grew over eight-fold to INR 11,200 crore, thereby exceeding imports (amounting to Rs 10,000 crore) for the first time. The report also noted that total handsets produced in India reached 29 crore units valued at Rs 1.81 lakh crore in 2018-19, as against 5.8 crore unit of handsets manufactured in 2014-15 valued at INR 18,900 crore. 

“Import of handsets as a percentage of domestic market demand which was approximately 80 per cent in 2014-15 came down appreciably to 6 per cent in 2018-19 with the sector leading towards ‘Net Zero’ import status faster than expected,” ICEA Chairman Pankaj Mohindroo said.