India’s mobile exports will top $10 billion in FY 2022-23, says Union Minister Ashwini Vaishnaw

India’s telecom industry has become investment driven and a job generator and mobile phone exports are expected to top $10 billion in the current fiscal year 2022-23, the minister of health said. Union Ashwini Vaishnaw.

“All component systems are in India. In the coming years…electronics manufacturing and telecommunications manufacturing will grow exponentially,” Union Communications Minister Ashwini Vaishnaw said on Tuesday.

Under its AtmaNirbhar plan, the government has launched Production Linked Incentive (PLI) schemes in various sectors to make Indian manufacturers globally competitive, attract investment, increase exports, integrate the India in the global supply chain and reduce dependence on imports.

Regarding employment in the sector, Vaishnaw said iPhone maker Apple alone has provided a lakh of new jobs in India over the past one and a half years.

The minister said that 10 years ago most of the components needed to manufacture mobile phones were imported, and now 99% of the components are indigenous.

“It’s a very big change. This year, mobile exports will surpass $10 billion (about Rs, 82,620 crore). All component systems are in India,” he said.

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

“Telecommunications is now a booming sector…the industry has reached the target for Phase 1 of 5G rollouts well ahead of the March 31 deadline. To date, India has covered 387 districts with 5G coverage 1,000 Base Transceiver Stations (BTS) have been installed,” Vaishnaw said.

India’s telecom sector has been awarded the “Global Government Leadership Award” by the London-based GSM Association