India’s January Smartphone Exports Hit Record $3.14 Billion

India’s smartphone exports soared to an all-time high of $3.14 billion in January 2025, surpassing the entire export value recorded in FY21. This marks an impressive 140% increase from January 2024, when exports stood at $1.31 billion. Union Minister Ashwini Vaishnaw projected that smartphone exports for FY25 could reach $25.92 billion, following the $15.6 billion recorded in FY24.

Apple played a dominant role in this surge, contributing 70% of the total exports. Foxconn led the way with shipments worth $960 million, while Tata Electronics and Pegatron exported over $800 million and $500 million, respectively.

The sharp rise in exports is largely attributed to India’s Production-Linked Incentive (PLI) scheme, designed to enhance competitiveness by reducing cost disadvantages. This initiative has encouraged major global players, including Apple, to relocate their supply chains to India, leading to the establishment of large-scale manufacturing units. Since the scheme’s introduction, smartphone exports have climbed steadily, from $3.1 billion in FY21 to $15.6 billion in FY24.

A decade ago, in FY15, smartphones ranked 167th among India’s total exports. However, by December 2024, they had surged to become the second-largest export category. This milestone highlights India’s expanding footprint in the global smartphone manufacturing industry.