India’s Smartphone Exports Cross Rs 2 Lakh Cr Mark In FY25

ENA Sectors 2025-04-09 13:59:25 New Delhi, April 9 (KNN) India's smartphone exports have reached an unprecedented milestone in the financial year 2024-25, surpassing Rs 2 lakh crore for the first time, according to an announcement made on Tuesday by Union Minister for Electronics and IT, Ashwini Vaishnaw. The minister highlighted this achievement as another record-breaking result of the government's Production-Linked Incentive (PLI) scheme. Official data reveals a substantial 54 percent increase in smartphone exports compared to the previous financial year, demonstrating the growing integration of global value chains with India's expanding electronics manufacturing sector. Minister Vaishnaw emphasised that this export growth is generating significant employment opportunities while enabling Indian MSMEs to join global supply networks and contributing to the rapid expansion of the local electronics manufacturing ecosystem. Industry data had previously indicated strong performance, with smartphone exports already exceeding Rs 1.75 lakh crore during just the first 11 months of FY25 (April to February), surpassing the entire previous fiscal year's results before year-end. The actual export figures have considerably outperformed the India Cellular and Electronics Association's projection of USD 20 billion (approximately Rs 1.68 lakh crore) for FY25. The remarkable growth is primarily attributed to the government's PLI scheme, which has successfully driven export increases while simultaneously reducing smartphone imports. Currently, 99 percent of smartphones used within India are manufactured domestically, representing a significant shift in the country's electronics manufacturing landscape. Apple has emerged as the dominant contributor to this export surge, with its iPhone supply chain accounting for nearly 70 percent of total smartphone exports from India. Foxconn's manufacturing facility in Tamil Nadu has been particularly productive, responsible for approximately 50 percent of all shipments and recording 40 percent year-on-year growth. Tata Electronics has also established itself as a key player in India's iPhone production through its Wistron facility in Karnataka and its 60 percent ownership stake in Pegatron's operations in Tamil Nadu. These developments have positioned Tata as an important partner in Apple's India-based manufacturing strategy. Reports indicate that Apple is considering increasing iPhone exports from India to the United States as a temporary measure to circumvent high tariffs on Chinese goods and manage rising import costs, further strengthening India's position in global electronics manufacturing. (KNN Bureau) 41687 https://knnindia.co.in/news/newsdetails/sectors/indias-smartphone-exports-cross-rs-2-lakh-cr-mark-in-fy25 2025-04-09 13:59:25 knnindia.co.in India’s Smartphone Exports Cross Rs 2 Lakh Cr Mark In FY25