India’s Smartphone Export Boom in FY25: A Record-Breaking Leap Beyond ₹2 Lakh Crore

India’s smartphone industry has achieved a major milestone in the financial year 2024–25 (FY25) as exports crossed ₹2 lakh crore for the first time. This achievement, announced by Union Minister for Electronics and IT, Ashwini Vaishnaw, showcases the impact of the Production-Linked Incentive (PLI) scheme and India’s strengthening position in global supply chains. The impressive surge not only reflects increased manufacturing capability but also points to a shift in trade dynamics with Apple’s iPhone exports playing a pivotal role.

Key Highlights and Developments

Milestone Achievement

• Smartphone exports surpassed ₹2 lakh crore in FY25 — the highest ever for India in this sector.

PLI Scheme Impact

• Growth driven significantly by the Production-Linked Incentive (PLI) scheme, promoting domestic manufacturing and exports.

Growth Rate

• Exports saw a 54% increase over the previous financial year, demonstrating strong upward momentum.

Integration into GVCs

• India’s integration into Global Value Chains (GVCs) has deepened, with increased participation of Indian MSMEs.

Employment Boost

• Rising exports have created large-scale employment opportunities, especially in electronics manufacturing.

Self-reliance Success

• 99% of smartphones used in India are now locally manufactured, reducing import dependence.

Key Export Contributor

• Apple was the largest contributor.
• 70% of exports came from the iPhone supply chain.
• Foxconn (Tamil Nadu) alone contributed 50% of shipments, showing a 40% YoY growth.
• Tata Electronics emerged as a major player with its Wistron unit (Karnataka) and Pegatron partnership (Tamil Nadu).

Past Data

• Smartphone exports reached ₹1.75 lakh crore by February 2025, already surpassing FY24’s total.