India catching up with Chinese and Vietnam phone market
India is quickly catching up to China and Vietnam in terms of exporting mobile phones. According to authorities who spoke with ET and cited data on global commerce, mobile exports from India increased by 40.5% in FY24, while those from China and Vietnam decreased by 2.78% and 17.6%, respectively, from the previous year.
The officials also stated that India had reaped over half of the decline in comparable shipments of mobile phones from Vietnam and China. This implies that the goal of obtaining the majority of the
The announcement of the smartphone production-linked incentive (PLI) program aimed to capitalize on China’s supply chain changes. The outcomes are starting to become apparent now, according to an unnamed official. China continues to be the world’s largest supplier of mobile phones, but India seems to be catching up.