India’s Smartphone Exports Hit Record Rs. 1.55 Lakh Crore, Driven by PLI Scheme

India’s smartphone exports have set a new record of Rs. 1.55 lakh crore (US$ 17.84 billion) for the period from April to January. This marks a significant growth trajectory for India’s smartphone industry, with the Production-Linked Incentive (PLI) scheme playing a major role.

• The PLI scheme, introduced in April 2020, has greatly contributed to the rise in local manufacturing and export of smartphones, positioning India as a competitive hub for global production.
• The scheme’s success has been demonstrated in the sharp growth of smartphone exports, which reached Rs. 25,000 crore (US$ 2.88 billion) in January 2025, showing a 140% year-on-year increase.

Apple’s Dominance and Other Key Players

A large portion of India’s smartphone export growth can be attributed to Apple’s iPhone vendors, including Foxconn, Tata Electronics, and Pegatron, who together contributed nearly 70% of the total exports.

• This significant contribution highlights the growing importance of India as a manufacturing base for Apple, with Foxconn and Pegatron playing a leading role.
• Samsung accounted for 20% of the total smartphone exports, with the remaining share coming from domestic firms and merchant exports.

Impact of PLI Scheme on India’s Manufacturing Sector

The PLI scheme has proven to be a key factor in accelerating India’s smartphone export growth, offering financial incentives for large-scale electronics production.

• The scheme has attracted substantial investment into the country, fostering an ecosystem conducive to high-volume manufacturing.
• Since its launch in April 2020, the scheme has helped India increase its smartphone exports by more than Rs. 24,000 crore (US$ 2.8 billion) from FY24 to FY25, setting the stage for even more growth.

Outlook for Smartphone Exports in FY25

India’s smartphone exports are projected to reach Rs. 1.68 lakh crore (US$ 20 billion) in FY25, continuing the upward trend driven by the PLI scheme and increasing local manufacturing.

• The incentive-driven growth is expected to further cement India’s position as a global manufacturing hub, capable of competing with other established markets like China and Vietnam.
• With ongoing investment in the sector and increasing participation from international brands, India’s smartphone export potential remains strong for the future.

Conclusion

The PLI scheme has been instrumental in the dramatic rise of India’s smartphone exports, helping the country set a new export record of Rs. 1.55 lakh crore (US$ 17.84 billion). With major contributions from Apple vendors like Foxconn and Pegatron, alongside Samsung and other domestic firms, India’s role as a global manufacturing hub continues to expand, setting a solid foundation for future growth in smartphone exports.

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