SMARTPHONE EXPORTS INDIA
India's high input tariffs stifle smartphone export growth, industry calls for reductions & policy changes in Budget 2024
Union Budget: India's efforts to increase smartphone exports through the production-linked incentive (PLI) scheme face challenges due to high tariffs on input parts and barriers for global firms entering its value chains. Despite the PLI scheme's success in boosting smartphone production beyond domestic demand, these tariffs, averaging 7.4%, are significantly higher than in competitor countries like China's bonded zones where tariffs are 0%.
Purplle’s Rs 1,000 crore funding; FirstCry, Unicommerce IPOs cleared
Omnichannel beauty platform Purplle has closed a Rs 1,000 crore funding round. This and more in today’s ETtech Top 5.
India catching up with China, Vietnam on phone exports
India is rapidly narrowing the gap with China and Vietnam in mobile phone exports. In FY24, while mobile phone exports from China and Vietnam declined by 2.78% and 17.6% respectively, Indian exports surged by 40.5%, according to officials citing global trade data. India has captured nearly 50% of the reduction in mobile phone exports from these two countries, aligning with its objective of absorbing a significant portion of the supply chain shift from China.
Mobile phone exports: India captures 50% share of fall in shipment from China, Vietnam
India's proactive strategies in capturing supply chain shifts, coupled with diversification efforts through the China+1 strategy, have propelled the country into a leading position in mobile phone exports. The remarkable growth in exports, particularly in the iPhone segment, signifies a significant milestone for India in the global market.
Avalara's strategy to expand in India aligns well with the country's export ambitions: Anil Paranjape
By leveraging technology, Avalara says businesses can focus on their core operations without being bogged down by the complexities of cross-border tax compliance.
Industry executives a worried lot: Why India-China tensions are equal to a big headache for electronics makers
Indian electronics manufacturers have suffered $15 billion in production losses and 100,000 job cuts due to escalating tensions with China. Visa delays for Chinese executives are hindering the industry's expansion plans, leading to a $10 billion export opportunity loss and $2 billion in value addition loss. Government probes into Chinese companies operating in India have further impacted the sector.
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India's trade deficit in May widens to $23.78 billion; exports rise 9%
India's trade deficit widened to $23.78 billion, falling short of economists' $19.5 billion projection, per a Reuters poll. May saw a 9% increase in merchandise exports to $38.13 billion, driven by engineering goods, commercial vehicles, and smartphones. Merchandise imports surged by 7.7% year-on-year to $61.91 billion. Analysts expect exports to rebound, aided by global trade recovery, manufacturing incentives, and domestic inflation easing.
Most phones sold online end up in grey market
A New Delhi-based retailer aware of the practice said the aggregators, or “cutters”, have hundreds of user accounts on online platforms, operated by a network of young people under their employment who place orders from different accounts to work around platforms’ restrictions on the number of units a customer can buy in one transaction.
Why imports from China are rising despite atmanirbhar Bharat initiatives
Imports from China is something India should monitor. But in some ways, this might be the way for the country to become a self-reliant economy.
Google to make Pixel in Tamil Nadu, confirms MK Stalin; drones coming up next?
Alphabet Inc., led by Sundar Pichai, will produce its flagship smartphones in Tamil Nadu, announced Chief Minister MK Stalin. Partnering with Foxconn, they plan to manufacture Pixel phones and potentially drones. This move aligns with Google's 2023 announcement to manufacture Pixel 8 smartphones in India, following Apple and Samsung's production shifts.
Google's India alphabet P for Pixel, D for Dixon: Local contract manufacturer will make Google Pixel 8 smartphones
Dixon Technologies to manufacture Google Pixel 8 smartphones in India to compete with Apple and Samsung in the Rs 50,000-plus price range. Google aims to increase its market share in India despite import duties, considering Foxconn as a potential manufacturing partner.
Unpredictability in enforcement agencies action needs a check: ICEA chairman
While speaking about the achievement of the mobile industry in the last 10 years, India Cellular and Electronics Association (ICEA) Chairman Pankaj Mohindroo said that the next phase of growth in the country will come from exports and there is a need to build domestic champions in the sector as part of government's 'Atmanirbhar Bharat' (self-reliant India) plan.
Dixon ropes in Realme, plans to manufacture display modules for mobile phones: MD
Dixon Technologies, an Indian contract manufacturer, has secured Realme, a Chinese smartphone brand, as a new client. They intend to commence production of display modules for mobile phones, tablets, and notebooks, with a targeted capital expenditure of $30 million, excluding costs related to land and buildings.
India's hair, groundnut oil exports witness surprise surge
Since the onset of the COVID-19 pandemic in 2020, the Indian government has implemented the "China Plus One" strategy to attract global manufacturing giants like Apple and Samsung to establish operations in India. While the primary focus has been on increasing exports of smartphones and other high-value products, there has been significant growth in other export sectors as well.
International calls for iPhones made in India ring louder; Apple may hit Rs 1 lakh cr export mark in FY25
Apple exports a bulk of its total India production. In FY24, Apple’s total production in India touched $14 billion (Rs 1.2 lakh crore). The company’s exports crossed $10 billion (Rs 85,000 crore). Both these figures were the highest achieved by any company in India till date for a single financial year.
Mobile makers bet on higher exports to grow
Smartphone makers are hoping for exports from India to continue their strong showing, which will drive their own growth as production levels are reaching their saturation point if only the domestic market is to be served, said market trackers. "The only headroom for growth right now is by increasing exports from India," said Prachir Singh, senior analyst, Counterpoint Research.
Apple bonanza: iPhones drive India's mobile phone exports to record $15 billion
Apple contributed 65%, or about $10 billion, double the $5 billion of phone exports from India in FY23, when the US major became the first smartphone brand to achieve this feat.
Export growth for 2024 will be led by PLI and Make In India schemes: GTRI
India's export sector, notably electronics, shows promising growth with smartphone exports projected to exceed USD 15 billion in FY2024. Ajay Srivastava highlights trends and emphasizes the need to revive traditional sectors for global competitiveness.
Samsung India nears another milestone in smartphone business
The company accelerated sales spurred by premiumisation with average handset selling prices rising by 22%, higher than the industry average of 17%. The share of no-cost EMI purchases has also increased from 54% to 60% during the year, said Akshay Rao, mobile experience business general manager at Samsung India. Tenure for no-cost EMI schemes too rose to 18 months from 12 months earlier.
Apple taps big and small retailers to boost iPhone market share in India
Retailers ET spoke to said Apple was earlier hesitant to get displayed in small retail outlets, but that has changed now. The company is also helping with finance options, even for retailers doing very small volumes. Further, additional incentives are being given to retailers for meeting targeted sales like increased margins, freebies etc.
India's smartphone exports to US jump to $3.53 billion in April-December FY24
The increasing outbound shipments led to an increase in the smarphones' market share to 7.76% during April-December this fiscal from 2% in the same period of last year, the data showed.
$100 billion: How can India hit its lofty electronics export target?
To reach the ambitious goal of a $5 trillion economy, the government aims for $300 billion in electronics production, including $100 billion in exports, by providing manufacturers with incentives. The government's efforts, including the Production Linked Incentive Scheme (PLI), aim to boost exports and production in the electronics industry.
India IT ministry fears losing out to China, Vietnam in smartphone exports race
A Jan. 3 letter and a confidential presentation drafted by Indian deputy IT Minister Rajeev Chandrasekhar, and sent to the Finance Minister, show the extent of his ministry's concerns about losing out due to the uncompetitive tariffs.
Apple iPhones lift electronics exports; Udaan CFO exits
Apple’s iPhone led the charge in India’s booming smartphone exports, contributing significantly to a record 22.24% growth in overall electronics exports, which surpassed $20 billion in the first nine months of FY24.
Govt should not cut import duties on parts used in making smartphones in Budget: GTRI
The Global Trade Research Initiative (GTRI) advised against reducing import duties on electronic components for smartphones in the upcoming budget, emphasizing that the current tariff structure supports local manufacturing. The report contradicts the India Cellular and Electronics Association's demand for duty cuts to boost domestic production.
Budget 2024: ICEA moots import duty cuts on inputs to boost smartphone exports
A key demand of the handset industry from Budget FY25 is zero tariffs on all lines that significantly increase costs, converging them with Vietnam and China to ensure competitiveness, scale and export-led growth. The industry has also called for streamlining the current complex tariff structures by bringing in just three slabs of 0%, 5% and 10% by 2025.
Chinese smartphone makers in the eye of multiple storms
Shrinking market share across the globe is forcing Chinese smartphone makers to dampen exports from India. And this comes amidst intensifying pressure from New Delhi to tweak their structure to include more Indians at top managerial and distribution levels, localise components, and drive exports from the country is increasingly challenging sustained growth, industry executives and analysts said.
Motorola plans to double exports from India
"North America is our primary export market from India. Currently, we have been exporting 20-25% of our capacity to North America, and every year, we are seeing step ups in terms of growth. We are planning to double our exports next year (in 2024)," Prashant Mani, executive director, Asia Pacific, Motorola, said.
iPhone supplier Murata targets China budget smartphone makers
Murata, a leading supplier of ceramic capacitors, sees the smartphone market growing 5% in the year ending March 2025, aided by demand for mid- and low-end handsets in places such as India, Africa and Southeast Asia.
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