India's mobile phone exports surge 50%, driven by record iPhone production

India's mobile phone exports surged nearly 50% in the first ten months of the financial year (April–January), reaching Rs. 1,50,000 crore (US$ 17.27 billion), up from Rs. 1,00,000 crore (US$ 11.51 billion) in the same period last year. The growth was largely driven by Apple’s increased iPhone production in India, with iPhone exports estimated at Rs. 1,00,000 crore (US$ 11.51 billion), compared to Rs. 60,000 crore (US$ 6.91 billion) last year. Samsung also contributed significantly, exporting Rs. 34,500 crore (US$ 3.97 billion) worth of mobile phones. The India Cellular and Electronics Association (ICEA) forecasts total mobile exports to reach Rs. 1,80,000 crore (US$ 20.72 billion) by the end of this financial year, marking a 40% YoY growth and a 680% increase since the introduction of the Production-Linked Incentive (PLI) scheme in FY21.

Electronics have now surpassed oil products as India’s second-largest export category, reflecting the success of the Production-Linked Incentive (PLI) scheme in boosting exports and reducing imports, with 99% of domestic mobile demand met by local production. ICEA Chairman, Mr. Pankaj Mohindroo, highlighted that India’s mobile manufacturing is expected to reach Rs. 5,10,000 crore (US$ 58.71 billion), strengthening India's position as a global manufacturing hub. Plans focus on enhancing competitiveness, scale, and supply chain integration to achieve India’s Rs. 43,43,500 crore (US$ 500 billion) electronics manufacturing goal. While the People’s Republic of China remains Apple’s top supplier, India’s production has expanded with Foxconn and Tata Group contributions. The Government of India expects further export growth as Apple Inc. expands production beyond iPhones to include AirPods.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.