India’s smartphone exports have reached a historic high of Rs 1.55 lakh crore during the April-January period of FY25, driven by the government’s Production-Linked Incentive (PLI) scheme. This marks a significant growth from Rs 1.31 lakh crore in FY24. Notably, January 2025 witnessed record-breaking monthly exports of Rs 25,000 crore, reflecting a 140% surge compared to January 2024.
The 10-month export figures represent a 56% increase from Rs 99,120 crore achieved during the same period last fiscal year. A substantial portion of this growth can be attributed to Apple’s iPhone vendors, who contributed nearly 70% of the total exports.
Foxconn, operating out of Tamil Nadu, led the pack with approximately half of the total exports and recorded a 43% year-on-year growth. Tata Electronics followed, contributing 22% as it ramped up production at its Karnataka facility after taking over from Wistron. Pegatron, also based in Tamil Nadu, accounted for 12% of the exports, with Tata Electronics recently acquiring a stake in the company.
Samsung, a key player in the Indian smartphone manufacturing ecosystem, contributed around 20% of the total exports. The remaining share came from domestic manufacturers and merchant exporters.
The Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, expressed optimism about the sector’s prospects, predicting that smartphone exports would hit $20 billion, or approximately Rs 1.68 lakh crore, by the end of FY25.
India’s remarkable growth in smartphone exports illustrates the sector’s transformation over the past decade. Once ranked 67th in the country’s export hierarchy, smartphones have now climbed to the second position. Since the introduction of the PLI scheme in April 2020, the industry has witnessed consistent double-digit growth. Exports surged from Rs 23,390 crore in FY21 to Rs 47,340 crore in FY22, nearly doubling within a year. The upward trend continued in FY23, with exports doubling again to Rs 91,652 crore, and further rising to Rs 1.31 lakh crore in FY24.
With the current momentum, industry experts anticipate continued growth, reinforcing India’s position as a global smartphone manufacturing hub.
