India’s Smartphone Exports Surge to Record High in January 2025

India’s smartphone exports reached an all-time high of ₹25,000 crore ($3.14 billion) in January 2025, surpassing the total exports of FY21. This marks a staggering 140% year-on-year increase from ₹11,373 crore ($1.31 billion) recorded in January 2024.

Union Minister of Information & Broadcasting, Railways, Electronics & IT, Mr Ashwini Vaishnaw, projected that smartphone exports in FY25 will reach ₹2,25,000 crore ($25.92 billion), following a strong performance of ₹1,35,439 crore ($15.6 billion) in FY24.

Apple Leads the Export Boom

Of the total exports in January, Apple continued its dominance, contributing 70% of the shipments. Key suppliers played a significant role in driving these numbers:

• Foxconn accounted for ₹8,334 crore ($960 million) (33% of total exports).
• Tata Electronics contributed over ₹6,945 crore ($800 million).
• Pegatron exported goods worth more than ₹4,341 crore ($500 million).

The Role of the PLI Scheme in India’s Export Growth

The Production-Linked Incentive (PLI) scheme has played a pivotal role in driving this growth. Introduced to enhance India’s global competitiveness, the scheme addresses cost disadvantages and has encouraged global giants such as Apple to shift their supply chains to India.

Since the scheme’s inception, smartphone exports have shown consistent growth:

• FY21: ₹26,914 crore ($3.1 billion).
• FY24: ₹1,35,439 crore ($15.6 billion).
• FY25 (projected): ₹2,25,000 crore ($25.92 billion).

From 167th to the 2nd Largest Export Category

A decade ago, in FY15, smartphones ranked 167th among India’s total exports. However, by December 2024, smartphones had become the 2nd largest export category, reflecting India’s growing prominence in the global electronics market.

India’s Rising Role in the Global Smartphone Market

With major players ramping up production and the PLI scheme attracting large-scale investments, India is solidifying its position as a key hub for smartphone manufacturing and exports. The shift of global supply chains, led by Apple and its contract manufacturers, is expected to further boost India’s standing in the international market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.