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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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