India’s smartphone exports surged to an all-time high of Rs 20,395 crore in November 2024, reflecting a 92% year-on-year growth from Rs 10,634 crore in the same period last year. This milestone marks the first time smartphone exports have crossed the Rs 20,000 crore threshold in a single month, as per data from industry associations.
Leading the charge was Apple, which exported iPhones worth Rs 14,000 crore, setting a new monthly record and eclipsing its previous high of Rs 12,000 crore in October 2024. Notably, Apple’s exports exceeded 80% of the total production value of iPhones manufactured in India by its three vendors, far surpassing its production-linked incentive (PLI) scheme commitment of 70-75% for FY25.
Major contributors to India’s export success include Foxconn’s iPhone factory in Tamil Nadu, which emerged as the largest exporter, followed by Tata Electronics in Karnataka and Pegatron.
The PLI scheme has been instrumental in reshaping the smartphone manufacturing landscape in India. Once ranked 23rd among India’s exports in 2019, smartphones have now become the third-largest individual commodity export. Similarly, electronics exports as a category have climbed to the third position in FY25 from seventh in 2019.
The India Cellular & Electronics Association (ICEA), in its recent PLI scheme assessment, highlighted the scheme’s transformative impact. It reported that, against a PLI disbursement of Rs 5,800 crore between 2021 and 2024, the industry generated an impressive Rs 1.1 trillion in incremental GST and duties on mobile components.
Additionally, the PLI scheme has created 3 lakh direct jobs and 6 lakh indirect jobs, with a significant number of positions filled by young women joining the workforce for the first time. Over its four-year tenure, the scheme has added Rs 2.87 trillion to India’s export tally, cementing its role in bolstering the country’s global electronics manufacturing presence.
