On the other hand, exports of mobile phones has been growing at an appreciable pace, clocking Rs 11,200 crore in 2018-19 from near zero in 2015-16.
The export of mobile phones from the country for the first time surpassed imports during the last financial year, with outbound shipments clocking a value of $1.6 billion as against inbound shipments of $1.4 billion during FY19. “Mobile handset exports have exceeded imports of handsets in the year 2018-19, which is recorded for the first time ever. In 2018-19 total exports of handsets was at Rs 11,200 crore ($1.6 billion) compared to total handset imports, which was at Rs 10,000 crore ($1.4 billion). Symbolically this is a very important achievement for India,” said India Cellular and Electronics Association (ICEA) chairman Pankaj Mohindroo.
Imports of handsets as a percentage of domestic market demand, which was around 80% in 2014-15, came down to 6% in 2018-19, he added.
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On the other hand, exports of mobile phones has been growing at an appreciable pace, clocking Rs 11,200 crore in 2018-19 from near zero in 2015-16. In fact, exports during the first four months in 2019-20 (April-July) crossed $1 billion, showing a promising growth to reach the target of Rs 25,000 crore ($3.6 billion) in 2019-20, Mohindroo said.
“Overall electronics export basket has been wearing a stagnant look during the past five years until mobile handset exports picked up pace during 2018-19 and contributed nearly 20% of the total electronics export basket in value terms. Apart from export pick in mobile handsets both in 2018-19 and in the current year (April–July) there has not been any notable growth in any other electronics product vertical,” he explained.