Apple accounts for more than 50% of India's smartphone exports will break through the $10 billion mark this fiscal year, according to the report.

CTOnews.com March 23, India Mobile phone and Electronics Association (ICEA) latest report that India's smartphone exports are expected to break through the $10 billion mark this fiscal year (CTOnews.com Note: currently about 68.8 billion yuan). The Indian government has introduced incentives, and many mobile phone manufacturers, including Apple, Samsung and Xiaomi, are investing more and increasing production capacity.

Apple accounts for 50 per cent of smartphone exports, Samsung 40 per cent and other brands about 10 per cent, according to ICEA.

India is pushing ahead with its PLI program, with smartphone exports doubling from the previous fiscal year. The United Arab Emirates, the United States, the Netherlands, the UK and Italy are the top five destinations for India's mobile phone exports, according to ICEA.

The report points out that Apple plans to produce and assemble 45% of iPhone in India by 2027. India currently accounts for about 10-15 per cent of total iPhone capacity, according to DigiTimes.