India’s smartphone exports touched a new milestone in the financial year 2024-25 (FY25), as it crossed Rs 2 lakh crore for the first time, Union Minister for Electronics and IT, Ashwini Vaishnaw, said on Tuesday. The Union Minister informed that smartphone exports grew by 54 per cent over the last financial year as global value chains (GVCs) continued to integrate into the Indian economy.
The rise in exports is creating massive employment opportunities, with Indian MSMEs becoming part of the global supply network and the local electronics manufacturing ecosystem expanding rapidly. Earlier industry data indicated that smartphone exports from India had crossed Rs 1.75 lakh crore in just 11 months of FY25, outpacing the previous year’s performance; this growth is largely attributed to the success of the PLI scheme.
Apple is the biggest contributor to India’s export surge, with its iPhone supply chain making up nearly 70 per cent of total exports. Reports also suggest that Apple is planning to boost its iPhone exports from India to the US as a way to avoid the steep tariffs on Chinese goods.