Boosted by the Public-Linked Incentive (PLI) scheme, India's smartphone exports hit record Rs. 1,50,000 crore (US$ 17.27 billion)
- IBEF
- February 18, 2025
India's smartphone exports set a new record of Rs. 1,55,000 crore (US$ 17.84 billion) in April-January, driven by the government's Production-Linked Incentive (PLI) scheme. Exports in January 2025 alone surged by 140% to Rs. 25,000 crore (US$ 2.88 billion) compared to the previous year. Apple’s iPhone vendors contributed nearly 70% of the total exports, with Foxconn, Tata Electronics, and Pegatron leading the charge. Samsung accounted for 20%, while the remainder came from domestic firms and merchant exports. Smartphone exports will reach Rs. 1,68,000 crore (US$ 20 billion) in FY25.
The PLI scheme has been a key factor in this growth, encouraging local manufacturing and attracting significant investment. Since its launch in April 2020, the scheme has helped India’s smartphone exports rise dramatically, with FY24 exports reaching Rs. 1,31,000 crore (US$ 15.08 billion). The PLI aims to position India as a global manufacturing hub by offering financial incentives for large-scale electronics production, which has led to substantial growth in both production and exports.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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