On Tuesday, April 8, 2025, the Union Minister for Electronics and IT, Ashwini Vaishnaw, announced that India’s smartphone exports hit a significant milestone in the financial year 2024–25 (FY25), topping ₹2 lakh crore for the first time in history.
In a post on X, the minister hailed this achievement as another record under the government’s Production-Linked Incentive (PLI) scheme.
According to Vaishnaw, smartphone exports grew by 54% compared to the previous financial year, driven by the continued integration of global value chains (GVCs) with India’s expanding electronics manufacturing sector.
“The surge in exports is creating vast employment opportunities, with Indian MSMEs joining the global supply network and the local electronics manufacturing ecosystem growing rapidly,” the minister added.
Earlier data from the industry revealed that smartphone exports from India had already crossed ₹1.75 lakh crore by the first 11 months (April to February) of FY25, surpassing the previous year’s total before the fiscal year ended.
This remarkable growth is largely attributed to the PLI scheme, which has not only boosted exports but also significantly reduced smartphone imports. Today, 99% of the smartphones used in India are produced domestically.
The India Cellular and Electronics Association (ICEA) had projected smartphone exports to reach $20 billion (around ₹1.68 lakh crore) in FY25, but actual figures exceeded expectations by a substantial margin.
Apple emerged as the largest contributor to this export surge, with its iPhone supply chain accounting for nearly 70% of total smartphone exports. Foxconn’s facility in Tamil Nadu alone contributed about 50% of all shipments, seeing a 40% year-on-year growth.
Tata Electronics also played a crucial role in India’s iPhone production, contributing through its Wistron facility in Karnataka and holding a 60% stake in Pegatron’s Tamil Nadu operations. These efforts have positioned Tata as a key player in Apple’s India-based manufacturing strategy.
Reports also suggest that Apple is considering increasing its iPhone exports from India to the United States as a temporary strategy to circumvent high tariffs on Chinese goods and manage rising import costs.
India’s smartphone export success in FY25 highlights the significant progress the country has made in becoming a global manufacturing hub, driven by initiatives like the PLI scheme.
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.
Published on: Apr 9, 2025, 11:18 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
