India's Rise to the Top 3 in Global Smartphone Exports
| Summary/Static | Details |
|---|---|
| Why in the news? | India Emerges as 3rd Largest Exporter in Smartphone Market |
| Global Rank (2024) | 3rd Largest Smartphone Exporter |
| Previous Rank (2019) | 23rd |
| Export Value (Nov 2024) | ₹20,395 crore |
| Growth Over Nov 2023 | 92% Increase (₹10,634 crore in Nov 2023) |
| Government Initiative | Production-Linked Incentive (PLI) Scheme |
| PLI Export Target (FY 2024-25) | 70-75% of Total Production Value |
| Economic Impact | - Boost to foreign exchange reserves - Job creation in manufacturing and allied sectors - Improved trade balance |
| Factors Driving Growth | - Government policies (PLI Scheme) - Growing domestic manufacturing base - Increased investment in infrastructure and technology |