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Mobile Exports: Led by Apple, India is set to cross $15 billion (over Rs 1,24,000 crore) in mobile phone exports in the current fiscal year, posting a growth of 35 per cent over the last fiscal year.
In the first five months of the fiscal year, India's mobile exports almost doubled to $5.5 billion or about Rs 45,700 crore. Apple accounted for nearly half of the total mobile phones exported from India.
India has huge opportunity for import substitution in electronic goods as already out of $120 bn domestic demand in the sector, $90 bn is currently made in India
According to reports by The Economic Times, for the first time India's cellphone exports have reached the first time ever in the month of September this year.
HMD Global to ramp up mobile exports from India; keen to source more components locally