India's mobile phone exports increase 40.5% in FY24, narrowing the gap with China and Vietnam due to the PLI scheme.
India's mobile phone exports surge by 40.5% in FY24, rapidly closing the gap with China and Vietnam. India captures almost half of the reduction in mobile phone exports from China and Vietnam, indicating a significant shift in the global supply chain. The growth is attributed to the smartphone production-linked incentive (PLI) scheme, which aimed to capitalize on the supply chain shift from China.
June 30, 2024
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