India's Smartphone Exports Surge Amid Global Demand

Growing Popularity of Made in India Products

Foreign consumers are increasingly drawn to products manufactured in India, leading to a significant rise in the export of these goods. In the fiscal year 2024-25, India achieved a remarkable milestone in smartphone exports, totaling $24.14 billion, a substantial increase from $15.57 billion in the previous fiscal year 2023-24. This impressive growth of 55% indicates that India is emerging as a key player in the export of technology-based products.

Government Initiatives Fueling Growth

The primary driver behind this surge in smartphone exports is the Production Linked Incentive (PLI) scheme introduced by the central government in 2020. This initiative provides incentives to companies for manufacturing products in India. Major international firms like Apple and Samsung have capitalized on this scheme to strengthen their production facilities in the country.

USA Emerges as Top Market

The United States has become the largest market for Indian smartphone exports this year, accounting for $10.6 billion. There is also a growing demand for Indian smartphones in countries such as Japan, the Netherlands, Italy, and the Czech Republic. Notably, iPhones manufactured in India through companies like Foxconn, Tata Electronics, and Pegatron now represent approximately 70% of total exports.

Boosting Employment and Economy

The increase in smartphone manufacturing has created millions of jobs in states like Tamil Nadu, Karnataka, and Uttar Pradesh. Facilities such as Foxconn's unit in Chennai and Tata's factory in Hosur exemplify this growth, contributing to India's inclusive development.

Ambitious Goals for 2030

The government aims to achieve $300 billion in electronics exports by 2030, with smartphones playing a crucial role in this target. Given the current momentum, India is poised to become a significant hub for global electronics manufacturing.