Pakistan aims to export $5 billion worth of smartphones by 2029

According to Dr. Umar Saif, Federal Minister of IT and Telecom, Pakistan’s mobile phone business is enjoying a major growth. The country has plans to export smartphones worth $500 million in the next two years, and in five years, it wants to reach the ambitious goal of $5 billion.

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The statement was made at the Pakistan Mobile Summit 2024, which was organized in cooperation with the mobile phone makers and the Ministry of IT and Telecom. In his speech at the conference, Dr. Umar Saif drew comparisons with India, a neighbor that already sells mobile phones for $10 billion a year.

He discussed the efforts being taken to increase the export of smartphones made in Pakistan and expressed confidence in strengthening Pakistan’s position in the global mobile phone industry.

The minister said at the event that 35 businesses had been granted licenses to produce smartphones from various brands. Additionally, a comprehensive program to support the local production of whole phones and some of their components is being developed.

It is anticipated that this move will improve Pakistan’s position in the global mobile phone market in addition to strengthening the domestic sector. Dr. Saif outlined the advancements made thus far, pointing out that over the previous two years, Pakistan has assembled almost 90 million mobile phones.

Furthermore, the nation has successfully exported about 250,000 mobile phones, worth $15 million. These numbers demonstrate Pakistan’s mobile phone manufacturing industry’s expanding capabilities. In order to increase Pakistan’s market share in the international arena, the minister emphasized the necessity of persistent efforts to fully realize the industry’s potential and emphasized the significance of innovation and competitiveness.

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A deliberate effort is being made as the nation develops to not only reach but also exceed the predetermined export goals, which will greatly boost the national economy and position Pakistan as a major player in the global mobile phone market. Pakistan is being shown as a competitive player in the global digital environment by the success and growth of the mobile phone business, which is in line with the government’s larger strategy for economic development and technical improvement.