BUSINESS

India’s Mobile Phone Exports Grow 250% in June Quarter

Mobile phone exports from India grew a massive 250 per cent year-on-year in the April-June quarter, according to the India Cellular and Electronics Association (ICEA).

The country has seen a sharp decline in mobile phone imports over the past year, dropping to Rs 600 crore in the first quarter of 2021-22, from Rs 3100 crore a year ago, the industry body said.

β€œThis is an all-time low since 2014-15,” said Pankaj Mohindroo, chairman of the ICEA. The industry body counts companies like Apple, Foxconn and many others among its members.

Mobile phone exports during the first quarter of 2021-22 stood at Rs 4600 crore, up over three times from the Rs 1300 crore in the same quarter in 2020-21.

β€œDespite the second wave of COVID-19 pandemic, the prudent policy of the Government of India (GoI) to continue manufacturing and backed by the PLI scheme, the industry has made significant progress in manufacturing and exports,” Mohindroo said. β€œElectronic goods export has also shown a tremendous rise of 100 per cent (YOY) in Q1 2021-22 crossing the mark of INR 20,000 Crore.”

Click here to check market prediction for next trading session.

Get Daily Prediction & Stocks Tips On Your Mobile


I would like to receive communication from EquityPandit via sms, email, whatsapp, Google RCS for offers, updates etc.



πŸ“°
News
πŸ“ˆ
Prediction
πŸ“Š
FII / DII
πŸ‘”
Advisory
Get 1-2 Index Option Trades Daily