India’s Smartphone Export Overtake Petroleum, Diamond in FY25
Surpassing the tradition commodities like petroleum products and diamonds, India’s smartphones are the top export commodity in FY25. As per the government data, the smartphone exports have significantly increased by 55 per cent as it was recorded to be $24.14 billion in 2024-25 as compared to $15.57 billion in 2023-24. Meanwhile, the exports in 2022-23 was $10.96 billion.
The United States became the largest destination, with exports increasing nearly fivefold in three years—from $2.16 billion in 2022-23 to $10.6 billion in 2024-25. Meanwhile, Japan also witnessed a significant jump as exports increased from $120 million to $520 million during the same period.
Such a significant increase in the exports shows that India is emerging strongly as a global smartphone manufacturing hub. A Commerce Ministry official told media smartphones have now overtaken long-standing export leaders due to sustained growth and strategic policy support. Key contributors to this rise include government initiatives like the Production-Linked Incentive (PLI) scheme, which has attracted investment, scaled local manufacturing, and strengthened India’s role in global supply chains.
Counterpoint’s ‘Make in India’ report reveals that the smartphone exports have been led by Apple and Samsung as they accounted for nearly 94 per cent of shipments. The study also notes that smartphone production in India grew 6% year-on-year in 2024 and is expected to continue growing in double digits in 2025 with increasing local value addition.
Source: The Economic Times
