India’s smartphone exports soared to ₹1.75 trillion ($21 billion) in the first 11 months of FY25, surpassing projections and marking a 54% year-on-year growth. Apple led the charge, contributing ₹1.25 trillion, with iPhones comprising 70% of total exports. Monthly exports consistently exceeded $2 billion since October 2024. The US and Europe emerged as the largest markets, with smartphones becoming India’s top export to the US. The government is exploring production-linked incentives to further strengthen manufacturing and integrate MSMEs into global supply chains.
India’s mobile phone exports reached an impressive ₹1.75 trillion ($21 billion) in the first 11 months of the 2024-25 financial year (FY25), exceeding the $20 billion projection made by Ashwini Vaishnaw, Minister for Electronics and Information Technology. And with one month still remaining, this milestone underscores the sector's remarkable growth trajectory.
According to the India Cellular & Electronics Association, this figure marks a staggering 54% increase compared to smartphone exports during the same period in the previous financial year. Independent estimates, based on data from Apple Inc.’s vendors submitted to state and central governments, revealed that Apple accounted for the lion’s share of exports, contributing ₹1.25 trillion. iPhone exports alone comprised nearly 70% of all smartphone exports during this time.
The growth in exports has been consistent throughout FY25. In the first quarter (April to June), exports reached $4.85 billion—30% higher than the same quarter in FY24. By the end of the first half of the financial year, total exports stood at $8.4 billion, again reflecting a 30% year-on-year increase from $6.5 billion in the first half of FY24. The momentum continued into the third quarter, which became the best-ever quarter for smartphone exports in India, with monthly exports surpassing $2 billion and totaling $6.8 billion for the quarter.
In the first two months of the fourth quarter alone, the industry added $5.6 billion in exports, driving the total to an unprecedented $21 billion. Notably, since October 2024, smartphone exports have consistently crossed $2 billion per month. For perspective, the highest monthly export in FY23 was $1.64 billion, while FY24 saw a peak of $1.9 billion.
The performance of Apple’s vendors—Foxconn, Tata Electronics, and Pegatron—has been crucial to this growth, with these companies collectively contributing 70% of the total exports. Meanwhile, Samsung and several Indian brands have also played a significant role through their merchandise exports.
The US and Europe remain the largest markets for Indian smartphone exports. Around 50–55% of these exports, led by Apple iPhones, are destined for the US. This year, smartphones have overtaken non-industrial diamonds to become India’s largest export to the US under Harmonized System codes. Smartphone exports have also emerged as a key topic in ongoing trade negotiations between India and the US, as the two nations work toward finalizing a bilateral trade agreement to enhance economic collaboration.
The Indian government is now exploring a production-linked incentive (PLI) scheme to further boost smartphone manufacturing. This initiative aims to strengthen the local ecosystem by encouraging greater value addition and providing opportunities for Indian micro, small, and medium enterprises (MSMEs) to join global supply chains.
The rapid growth of smartphone exports from India reflects not only the success of domestic manufacturing but also the country’s increasing integration into global value chains. It is a promising sign for the future of India’s electronics sector and its role on the world stage.
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