iPhone manufacturer Murata will operate in Chennai, and India will export mobile phones valued at Rs 1.80 lakh crore

India can earn Rs 1.80 lakh crore this financial year by mobile phone export. It will be 40 percent greater compared to the previous financial year.

According to the India Cellular and Electronics Association, exports worth Rs 1.50 lakh crore have been made from April last year to January this year. More than Rs 25,000 crore was exported in January alone. There is an estimated 6.80-fold increase since the launch of the production-linked incentive (PLI) scheme in 2020-21. Since the launch of the PLI scheme, mobile phone production in India has doubled from Rs 2,20,000 crore to Rs 4,22,000 crore. Production is set to reach Rs 5.10 lakh crore in 2024-25, further strengthening India's emergence as a global manufacturing superpower.

India is benefitting from the war between the US and China. Multilayer ceramic capacitors are produced by a company by the name of Murata that is headquartered in Japan. 60 percent of the production is being undertaken within Japan itself at the moment, but with the increasing demand, the company had a plan to outsource the production to India.

Murata President Norio Nakajima said the company is considering increasing the pace of its investment in India. We are making most of our latest capacitors in Japan, but want to manufacture more abroad. Murata has leased a plot in Onehub Chennai Industrial Park in Tamil Nadu. The company plans to start packaging and shipping ceramic capacitors from this plant by the next financial year.