Summary:

In November 2024, India achieved a historic milestone in smartphone exports, exceeding Rs. 20,000 crore (US$ 2.39 billion) for the first time in a single month. Exports totalled Rs. 20,395 crore (US$ 2.44 billion), up 92% from November 2023. Apple dominated the exports with Rs. 14,000 crore. The success of the PLI initiative boosted smartphone and electronics exports, creating significant job opportunities.

The smartphone PLI scheme has dramatically increased exports, propelling smartphones from 23rd to the third-largest commodity export. Electronics exports similarly rose to third place by FY25. Between 2021 and 2024, the initiative disbursed Rs. 5,800 crore (US$ 0.69 billion), generating GST of Rs. 1.1 trillion (US$ 13.14 billion). It has created 300,000 direct jobs and 600,000 indirect jobs, mostly for young women. Exports totalled Rs. 2.87 trillion (US$ 34.29 billion).

Source: IBEF 

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