Summary:
India's mobile phone exports have surpassed Rs. 1,82,448 crore (US$ 21 billion) in the first 11 months of FY25, exceeding the earlier projection made by Union Minister for Railways, Information and Broadcasting and Information Technology, Mr. Ashwini Vaishnaw. The minister had estimated exports to reach Rs. 1,73,760 crore (US$ 20 billion), but with one month still remaining in the fiscal year, the actual figures have already gone beyond expectations. This represents a remarkable 54% surge compared to the same timeframe in FY24, as reported by the India Cellular & Electronics Association. Apple Inc. continues to dominate, accounting for Rs. 1,25,000 crore (US$ 14.39 billion) in exports, with iPhones making up nearly 70% of total outbound smartphone shipments.
The upward trend was evident in Q1 FY25, with exports totaling Rs. 42,137 crore (US$ 4.85 billion), reflecting a 30% year-on-year increase. By the halfway mark, export figures had climbed to Rs. 72,979 crore (US$ 8.4 billion), up from Rs. 56,472 crore (US$ 6.5 billion) in H1 FY24. The third quarter proved to be the strongest, with exports exceeding Rs. 17,376 crore (US$ 2 billion) monthly, leading to a quarterly total of Rs. 59,078 crore (US$ 6.8 billion). In the first two months of Q4, another Rs. 48,653 crore (US$ 5.6 billion) was added to the tally. Since October 2024, monthly smartphone exports have consistently remained above Rs. 17,376 crore (US$ 2 billion), surpassing previous highs of Rs. 14,248 crore (US$ 1.64 billion) in FY23 and Rs. 16,507 crore (US$ 1.9 billion) in FY24. Apple’s key suppliers, Foxconn, Tata Electronics and Pegatron have handled 70% of shipments, while Samsung and Indian manufacturers contributed the rest. The US and European markets remain the biggest consumers, with 50–55% of exports directed to the US. Smartphones have now overtaken non-industrial diamonds as India’s top export to the country. To further enhance domestic manufacturing and increase MSME participation in global supply chains, the government is considering a production-linked incentive (PLI) initiative.
Source: IBEF
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