India’s smartphone exports have experienced a remarkable 55% increase in the fiscal year 2024-25, reaching $24.14 billion. This surge has propelled smartphones to become the nation’s top export commodity, overtaking traditional leaders like petroleum products and diamonds.
Key Export Destinations
The United States emerged as the largest market for Indian smartphone exports, with shipments escalating from $2.16 billion in FY23 to $10.6 billion in FY25. Japan also witnessed significant growth, with exports rising from $120 million in FY23 to $520 million in FY25.
Government Initiatives Fueling Growth
The Production-Linked Incentive (PLI) scheme has been instrumental in this growth, attracting investments and enhancing local manufacturing capabilities. This initiative has integrated India more deeply into global value chains, bolstering its position as a major smartphone manufacturing hub.
Dominance of Major Manufacturers
Apple and Samsung have played pivotal roles, accounting for nearly 94% of India’s smartphone exports in 2024. Their continued investment in local manufacturing has significantly contributed to the export surge.
Implications for India’s Economy
This shift underscores India’s evolving role in the global technology supply chain, highlighting its capacity to produce high-value goods for international markets. The diversification of exports reflects the success of government initiatives and the country’s growing competitiveness in electronics manufacturing.The Times of India
