Smartphone PLI exports breaks the record

            

       Smartphone PLI exports has break the                    record 

As per the report electronic export reached the the highest ever marked of 19.1 billion dollar market which is a huge record marked within seven months of the period has scaled a new benchmark at the end of any financial year. 

The reports say that the growth is about 24 percentage from the last report which was calculated of 15.4 billion dollar. While the export has increased of the sector from last financial year.

The latest government of India has congratulated to the people of India for this huge success. This momentum has been pushed due to the huge push in exports by the electronic linked  market due to the Smartphone Production Linked Incentive Scheme.

For the month of October, 2024. A 45 percent of growth has been calculated of 3.4 billion dollar over last October of 2023. Which had the figure of 2.4 billon in export.

It can be seen that 55 percent of export has been constitute by the smartphone companies as growth of until October,2024. It is remarkable to know that the apple has the stake of 65 percent of exports alone topping the company having the huge remarkable stands in the contribution for this huge growth of exports till date.

According to the Department of Commerce, last year at the end of the October, electronic exports was ranked the sixth position export, behind engineering goods, petroleum products, gems and jewelry, pharmaceutical products, organic and non organic chemicals. But buy the end of October, the figure jumped to the third. Only behind the petroleum products and engineering goods, the electronic exports has become the largest growing exports in the list. It all just happened within the seven month of period which is a huge record for the government.

Electronic exports has begun to defeat the other sectors jumping in the winning row to become the India's top five exports and making a narrow gap between the petroleum export which has the largest in the number.

Last year, the petroleum export had the percentage of the largest in the figure had 47 billion dollar export, which the electronic export is going to surpass soon as it has already crossed nearly half of the percentage of the petroleum export of about 47 billion dollar. 

Conclusion : The government is taking huge step to make the country economical value to the next level to reach the highest in growth. As smartphone sector is the largest in the world which can bring the economy a high storm to hike its financial value at the target point. It has been seen that the numbers  of using smartphone  has been increased from last decades. And specially the this sector has the largest market in the world. Hope the smartphone sector continues the magic to make the country to be the highest in growth for next financial year.