June 14, 2023
3 min

BofA – Shifting global supply chains in India due to the rise of Mobile ... - NewsPatrolling

Bank of America has released a report stating that India's mobile phone exports have grown impressively, reaching a total of $1bn per month, positioning India as a credible alternative in the global supply chain for mobile phones and electronics. The report also suggests that India's efforts to cut imports and step-up exports could improve its macro-outlook and cut current account deficit by $112bn over five years. The report highlights the success of India's Production-Linked Incentives (PLI) scheme and suggests that Apple may shift over 18% of its global iPhones production to India by FY25. 

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Adhikansh Gupta
Content Manager

Writer and editor who covers the latest trends and innovations in the software-as-a-service (SaaS) industry