From 167th position in 2014, smartphones become India’s top exported product, value of exports reach ₹2 lakh crore
In a massive achievement, India’s mobile phone exports have risen to an unprecedented peak in the first 10 months of fiscal year 2024-25. During this time period, India’s smartphone exports reached $18.31 billion. Department of Commerce’s data shows that based on harmonised system codes, smartphones are India’s largest individual export commodity by value over 10 months of any financial year, during the April-January period of FY 2024-25.
Smartphones surpassed automotive diesel fuel exports, which stood at $16.04 billion. During the corresponding period of the previous fiscal year (FY24), smartphones ranked 4th among HS-coded exports, followed by automotive diesel fuel, aviation turbine fuel, and diamonds.
Smartphones becoming the top exported product from India shows the remarkable success story of the Modi government’s initiatives under the Make in India campaign. When the govt took over in 2014, smartphones ranked towards the bottom of the exported products list with a rank of 167. It shows that the productivity-linked incentive scheme of the government has been a big success.
The rise of smartphones to the peak of exports hierarchy was fuelled by a dramatic surge in shipments during April-January FY25, which increased by 54.7 per cent from $11.83 billion in the same period a year earlier.
This remarkable growth is attributed to a concerted ramp-up of exports to the US from India in anticipation of President Trump escalating a global tariff war. As per a Business Standard report, smartphone exports to the US, led by Apple Inc’s iPhones, soared by 208 per cent year-on-year, reaching $1.63 billion. Between April and January of FY25, smartphone exports from India to the US increased by over 64 per cent, totalling $6.6 billion.
Union Minister of Electronics and Information Technology, Ashwini Vaishnaw, announced that India’s smartphone exports have reached a historic milestone, crossing Rs 2 lakh crore in the previous fiscal year 2024-25.
“Smartphone exports have achieved a new record of Rs 2 lakh crore, making mobile phones among the top exported goods from India said Vaishnaw. “This represents a 54% growth over the fiscal year 2023-24, with iPhone exports alone accounting for approximately Rs 1.5 lakh crore.”
“Smartphone PLI scheme reaches new highs: Smartphones emerged as India’s largest export in first 10 months of FY25. In FY14, smartphone exports were ranked 167th. Number 1 position is result of a 10-year government-industry partnership. In FY25, smartphone exports reached a record Rs. 2 lakh cr. Lakhs of new jobs especially for women, expanding opportunities for Indian MSMEs,” Minister Vaishnaw posted on X.
The minister highlighted the remarkable growth trajectory of India’s electronics sector over the past decade. “Electronics manufacturing has increased more than fivefold, while electronics exports have grown more than sixfold in the last 10 years,” he stated.
“Production is growing at a compound annual growth rate (CAGR) of over 17%, while exports are expanding at over 20% CAGR.”
Vaishnaw emphasised the rapid development of India’s electronics manufacturing ecosystem, with over 400 production units of various sizes now manufacturing a diverse range of components. “Like many other countries that went through this cycle, India started with finished goods, then moved to assemblies, and is now progressing to components,” he explained.
The minister also announced that the notification for the Electronics Component Manufacturing Scheme would be issued on Tuesday. Recently, the Union Cabinet approved the Production-linked Incentive scheme with a funding of Rs 22,919 crore to make India Atmanirbhar in the electronics supply chain. Vaishnaw said that after the issuance of the notification, the process of holding consultations with the industries will begin for framing the guidelines for the implementation of the scheme.
“The electronics components supported under this scheme will be used in consumer electronics, medical electronics, power electronics, automobiles, electrical grids, and practically every sector. This will have a multiplier impact across many industries,” Vaishnaw said.
He further clarified that the scheme would cover both active and passive components, two major categories in electronics manufacturing.
In related developments, Merck and Linde are setting up manufacturing facilities in India, and the government will support the manufacturing of capital equipment domestically.
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