India’s Mobile Exports to Exceed $10 Billion in FY 2022-23, Says Union Minister Ashwini Vaishnaw

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The telecom industry in India has become investment-oriented and an employment generator and exports of mobile are expected to exceed USD 10 billion in the current financial year 2022-23, said Union minister Ashwini Vaishnaw.

“All the component systems are in India. In the coming years…will see electronic manufacturing, telecom manufacturing growing exponentially,” said Union Minister of Communications Ashwini Vaishnaw told reporters on Tuesday.

As part of its AtmaNirbhar plan, the government launched Production Linked Incentive (PLI) schemes in various sectors to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports.

Regarding employment in the sector, Vaishnaw said iPhone manufacturer company Apple has standalone provided one lakh fresh jobs in India in the past one-and-a-half years.

The minister said 10 years ago, most components needed for mobile phone manufacturing were imported, and now 99 percent of components are indigenous.

“This is very big change. This year mobile export are going to exceed $10 billion (roughly Rs, 82,620 crore). All the component systems are in India,” he said.

According to the India Cellular and Electronics Association, the total number of jobs directly and indirectly created by mobile device manufacturers and their suppliers is around two million over seven years.

“Telecom is now a sunrise sector…the industry achieved the phase one target of 5G rollouts much before the set deadline of March 31. As of today, India has covered 387 districts with 5G coverage. 1 lakh base transceiver stations (BTSs) have been installed,” said Vaishnaw.

India’s telecom sector has been awarded the ‘global government leadership award’ by the London-based telco body GSM Association