According to trade data examined by the industry body India Cellular and Electronics Association (ICESA) and government officials, India’s smartphone exports have more than doubled, reaching over $11 billion in the fiscal year that ended in March. This demonstrates the South Asian market’s growing ambition to become a global hardware manufacturing hub, as smartphones are increasingly becoming a necessity for both consumers and businesses in the region.
Experts speculate that the slowdown in smartphone sales in China, where Amazon and other foreign companies have begun to muscle into the market, is one of the reasons for this shift. The competitive environment may also be a Factor as local players have been feverishly chasing government subsidies and taxes that have helped boost shipment numbers in previous years.
Apple’s commanding share of the global electronics market has allowed it to set the trends in a number of industry sectors, including mobile phones and smartphones. However, Samsung Electronics is quickly catching up with its rival company, dominating not only the consumer electronics but also some industrial markets such as LED displays and microchips.
While China remains the top global smartphone market, India is quickly catching up. And one of the reasons for this growth is India’s efforts to encourage smartphone manufacturers to expand their operations in the country. The government has offered financial incentives and support, including easing of regulations and a large pool of potential customers. This has helped Indian manufacturers compete with top global brands, resulting in an increase in exports over recent years.
Apple’s decision to initiate the production of the iPhone 14 in India is a sign of the company’s aggressive diversification strategy. While assembling iPhones in China presents some challenges (mainly COVID restrictions), India has proven to be a viable option for Foxconn due to its affordable workforce and well-established manufacturing base. The move could help Apple reduce its reliance on China, which could provide stability and security for both Apple and its subcontractors.
One reason that Apple is expanding its manufacturing capabilities in India is to try and compete with companies like Samsung, which have been dominant in the global smartphone market for years. by 2025, Apple plans to produce 25% of all iPhones in India, which will give it a strong foothold in one of the world’s biggest markets.
With the increasing sales of smartphones in India, the country is well on its way to becoming a global leader in mobile devices. This success is thanks to Prime Minister Modi’s Make in India program, which encourages businesses to invest in manufacturing in India. With this growth, Indian companies will be able to compete with global brands and create jobs for countless people within the country.