Handsets worth Rs 4.6k crore exported in Q1, imports dip

India exported handsets worth Rs 4,600 crore during the fiscal first quarter ended June, up 250% on-year, despite the second wave of Covid-19, while imports plunged, industry body India Cellular and Electronics Association (ICEA) said on Tuesday.

“Despite the second wave of Covid-19 pandemic, the prudent policy of GoI (government of India) to continue the manufacturing and backed by the PLI scheme, the industry has made significant progress in manufacturing and exports,” Pankaj Mohindroo, chairman at ICEA, said in a statement. Exports of electronic goods in April-June period also doubled on year to over Rs 20,000 crore.

“There is a sharp decline in the imports of mobile phones to a minuscule Rs 600 crore during the first quarter of 2021-22, which was Rs 3,100 crore for the similar period in 2020-21. This is at an all-time low since 2014-15,” Mohindroo added.