India’s Smartphone Exports Set to Reach $20 Billion in FY25
India’s smartphone exports are on track to hit a record $20 billion in FY25, driven primarily by a significant increase in iPhone exports. In the previous financial year, smartphone exports totaled $15 billion, with Apple contributing nearly $10 billion. By November of FY25, smartphone exports had already surpassed $12 billion, and the year-end target looks well within reach.
Apple’s exports alone reached $12.8 billion in 2024, and this figure is expected to rise further by March 2025. Electronics and IT Minister Ashwini Vaishnaw recently highlighted this growth on social media, emphasizing the achievement of the $20 billion target.
India’s rise as the world’s second-largest mobile phone producer is largely attributed to the government’s Smartphone Production-Linked Incentive (PLI) scheme, which incentivizes local manufacturing. The scheme has led to significant investments, job creation, and an increase in domestic production, which was valued at Rs 4.10 lakh crore in FY24.
Apple, along with other major players like Samsung and Dixon Technologies, has driven much of the growth, achieving higher local value addition and contributing to a thriving smartphone ecosystem in India. If this momentum continues, India’s share in global iPhone production is set to rise to over 26% in the coming years.
Source: The Economic Times
