India’s smartphone exports increased by 54% to $ 21 billion in April to February

According to the latest industry data, India’s smartphone exports crossed Rs 1.75 lakh crore ($ 21 billion) in 11 months of FY 2024-25 (April-February), which is 54 percent higher than the same period of FY 2023-24.

Smartphone exports expected to reach $ 20 billion in 2024-25

Electronics and Information Technology Minister Ashwini Vaishnav said that he expected that smartphone exports during 2024-25 will reach $ 20 billion (Rs 1.68 lakh crore), but according to data from India Cellular and Electronics Association (ICEA), the figure has reached the estimate in 11 months of the current financial year.

Electronics goods boom due to PLI scheme

Under the leadership of smartphones, India’s electronics goods exports have gained momentum in recent years, which goes to the government’s production-linked incentive (PLI) scheme, which has succeeded in attracting foreign tech companies like Apple and its suppliers. The LPI scheme has promoted exports and reduced imports, as domestic production now fulfills 99 percent of domestic demand.

Apple’s iPhone supply chain contributes about 70% to export

Apple’s iPhone supply chain with Tamil Nadu -based Foxconn plant contributed to about 70 percent exports, which is about 50 percent of the foreign shipment. Exports from the Foxcony factory recorded an increase of more than 40 percent compared to the same period of the previous financial year.

Tata Electronics exports 22%

The remaining 22 percent of the exports came from the iPhone seller Tata Electronics, which has acquired the Wistron smartphone manufacturing factory in Karnataka. The 12 percent of the exports came from the Patron plant in Tamil Nadu, with Tata Electronics 60 percent stake in the end of January. With the acquisition of two Taiwanese companies, the Tata group has emerged as a major producer of iPhone in the country.

South Korean tech giant Samsung contributed about 20 percent to the total smartphone exports from India.

PLI acquired Rs 10,213 crore invested by December 2024

According to the latest information introduced in Parliament, PLI has succeeded in attracting a cumulative investment of Rs 10,213 crore by December 2024 for electronics manufacturing, which has created more than 1.37 lakh direct employment and has boosted the country’s exports.

Number of mobile phones manufactured in last 10 years increased more than 5 times

Due to the PLI scheme, the production of mobile phones has increased from about 60 million mobile phones in 2014-15 to about 330 million mobile phones in 2023-24. This is an increase of more than 5 times the number of mobile phones manufactured in the last 10 years.

The production of mobile phones on the price has increased from only Rs 19,000 crore to Rs 422,000 crore in 2023-24, which is increasing from 41 percent CAGR.

Mobile phone exports increased to Rs 129,074 crore

Since the introduction of the PLI scheme for large-scale electronics manufacturing, mobile phone exports have increased from Rs 22,868 crore in 20-21 to Rs 129,074 crore in 2023-24, which is increasing from 78 percent of CAGR.

Apart from this, while 74 percent of all mobile phones sold in India were imported in 2015, now 99.2 percent mobile handsets being used in India are made in India only.