GUWAHATI: India’s smartphone exports have reached a record-breaking ₹1.55 trillion during the April-January period, according to reports on Tuesday, February 18.
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This surge, fueled by the Production-Linked Incentive (PLI) scheme, has already reportedly exceeded FY24’s total of ₹1.31 trillion. January 2025 set a new benchmark with the highest-ever monthly exports of ₹250 billion, marking a 140% increase compared to January 2024, as per reports. Overall, exports for the 10-month period leading up to January were 56% higher than the ₹991.2 billion recorded in FY24.
Apple’s iPhone vendors accounted for nearly 70% of total smartphone exports, with Foxconn’s Tamil Nadu plant alone contributing about half. Foxconn’s exports grew 43% year-on-year, reinforcing India’s position as a key global manufacturing hub.
Other key contributors included:
-Tata Electronics: Responsible for 22% of exports, following its expansion in Karnataka after acquiring Wistron’s operations.
-Pegatron: Based in Tamil Nadu, contributed 12%, with Tata Electronics recently acquiring a stake in the company.
-Samsung: Accounted for 20% of total smartphone exports.
-Domestic firms and merchant exports made up the remaining share.
Electronics & IT Minister Ashwini Vaishnaw has projected exports to hit $20 billion (₹1.68 trillion) in FY25. Once ranked as India’s 67th-largest export a decade ago, smartphones now stand as the country’s second-largest export.
Since the introduction of the PLI scheme in April 2020 (fully implemented in April 2021), India’s smartphone exports have witnessed exponential growth:
-FY21: ₹233.9 billion
-FY22: ₹473.4 billion (2x growth)
-FY23: ₹916.5 billion (2x growth again)
-FY24: ₹1.31 trillion
The PLI scheme, designed to incentivize domestic manufacturing, has played a crucial role in transforming India into a global hub for smartphone production and exports, reinforcing the country’s status in the international market.
