India has achieved a significant milestone in the financial year 2024–25 (FY25), with smartphone exports surpassing ₹2 lakh crore for the first time. The announcement was made by Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, on Tuesday.
Taking to social media platform X, Vaishnaw described the development as a record-breaking achievement under the government’s Production-Linked Incentive (PLI) scheme.
He noted that smartphone exports had grown by 54 per cent over the previous financial year, as global value chains (GVCs) continued to integrate into India’s expanding economy.
“The surge in exports is generating extensive employment opportunities. Indian MSMEs are becoming integral parts of global supply chains, while the domestic electronics manufacturing ecosystem is rapidly growing,” Vaishnaw shared in his post.
Industry data had earlier indicated that smartphone exports from India had already crossed ₹1.75 lakh crore in just the first 11 months (April to February) of FY25, suggesting strong performance even before the close of the financial year.
This export growth is largely attributed to the success of the PLI scheme. The initiative has not only enhanced outbound shipments but has also significantly reduced the country’s dependence on imported mobile devices. As of now, 99 per cent of smartphones used in India are manufactured domestically.
The India Cellular and Electronics Association (ICEA) had estimated that smartphone exports would reach around $20 billion (approximately ₹1.68 lakh crore) in FY25. However, the actual figure comfortably exceeded this forecast.
The largest contributor to India’s booming smartphone exports is Apple. The tech giant’s iPhone supply chain accounts for nearly 70 per cent of total exports from the country.
Foxconn’s facility in Tamil Nadu alone is responsible for about half of the shipments, having recorded a 40 per cent year-on-year increase.
Tata Electronics has also emerged as a key player in the sector. The company’s involvement in the Wistron facility in Karnataka, along with its 60 per cent stake in Pegatron’s Tamil Nadu unit, has firmly positioned it as a major iPhone manufacturer in India.
Meanwhile, reports indicate that Apple is considering increasing its iPhone exports from India to the United States. This move is aimed at avoiding the high tariffs imposed on Chinese goods, and is being explored as a temporary measure to reduce the financial burden of importing from China.
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