India's Smartphone Exports Surge to New Heights, Surpassing Traditional Goods

Record Growth in Smartphone Exports

India's smartphone manufacturing sector has achieved remarkable milestones, now leading as the country's top exported product. In a significant shift, smartphone exports have outpaced traditional exports like petroleum and diamonds. Over the past three years, exports to the US have increased nearly five times, while shipments to Japan have quadrupled. In the fiscal year 2024-25, smartphone exports soared by 55%, reaching $24.14 billion, up from $15.57 billion in 2023-24 and $10.96 billion in 2022-23.

Japan has also seen a notable increase in exports, with shipments rising from $120 million in 2022-23 to $520 million in FY25.

The surge in exports can be attributed to the government's Production Linked Incentive (PLI) scheme, which has positioned India as a significant player in global manufacturing. This initiative has allowed the country to integrate more effectively into international supply chains.

Key Players Driving Production Growth

Apple and Samsung dominate the landscape, accounting for approximately 94% of India's smartphone exports in 2024. Their ongoing expansion in manufacturing within India is contributing to record achievements. Projections indicate that smartphone manufacturing in India will continue to grow at a double-digit rate in 2025, further enhancing value addition.

In the last fiscal year, the top five countries experiencing the highest growth in smartphone exports from India were the US, The Netherlands, Italy, Japan, and the Czech Republic. Mobile phone exports exceeded Rs 1.75 trillion in the first 11 months of 2024-25, surpassing earlier estimates that anticipated reaching around $20 billion in the coming year.