Electronic Goods Export Records All-Time High of Rs 8,806 Crore for December 2020: ICEA
The government rolled out a production linked incentive scheme for the mobile phone sector July last year in which global majors like Apple's contract manufacturers Foxconn and Winstron, Samsung, Lava, Dixon etc participated. The scheme attracted total investment proposals of Rs 11,000 crore with commitment to manufacture mobile phones worth Rs 10.5 lakh crore.
New Delhi, March 2: Electronic goods export reached an all time high of Rs 8,806 crore in December 2020 with mobile handset contributing 35 per cent to the overall kitty, industry body ICEA said on Tuesday.
According to the India Cellular and Electronics Association (ICEA) mobile exports are 50 per cent higher compared to the pre-COVID levels. "We are pleased to share that industry is overcoming the unprecedented challenges of COVID and is on a path of regaining the momentum as envisaged in NPE 2019.
"Mobile phones are the highest contributor in the segment comprising 35 per cent of the value with an export value of Rs 3,061 crore which is 50 per cent higher than December 2019," ICEA chairman Pankaj Mohindroo said in a statement.
He said that the mobile phone manufacturing industry, backed by the PLI scheme, during the COVID period industry has made substantial investments of more than Rs 2,000 crore.
"Electronic Goods exports for the current financial year have crossed Rs 50,000 crore mark despite COVID-19 pandemic and complete washout of production for 45 days. The mobile handset industry has catered to the domestic demand during the pandemic as well as exports of more than Rs 14,000 crores till December 2020," Mohindroo said.
The government rolled out a production linked incentive scheme for the mobile phone sector July last year in which global majors like Apple's contract manufacturers Foxconn and Winstron, Samsung, Lava, Dixon etc participated. The scheme attracted total investment proposals of Rs 11,000 crore with commitment to manufacture mobile phones worth Rs 10.5 lakh crore.
The rollout of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme can also help boost the exports by a specific process of determining the rates and identifying the product lines, ICEA said.
"The reduction of custom duties and a scheme to refund to the exporters the embedded central, state and local duties and taxes can act as a key contributor in achieving the mobile phone export of over Rs 8 lakh crore envisaged under National Policy on Electronics 2019 target," Mohindroo said.
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