Indian Economy News

India's smartphone exports soar, surpassing petroleum, diamonds in FY25

India’s smartphone exports witnessed a significant surge in FY25, rising 55% YoY to Rs. 2,06,445 crore (US$ 24.14 billion) from Rs. 1,33,155 crore (US$ 15.57 billion) in FY24 and Rs. 93,730 crore (US$ 10.96 billion) in FY23, according to government data. This exponential growth has positioned smartphones as the country’s top exported commodity, surpassing petroleum products and diamonds for the first time. The United States (US), Netherlands, Italy, Japan, and the Czech Republic were the top five markets registering the highest growth. Exports to the US alone rose nearly fivefold, from Rs. 18,472 crore (US$ 2.16 billion) in FY23 to Rs. 90,651 crore (US$ 10.6 billion) in FY25. Japan also saw a sharp rise, with shipments increasing from Rs. 1026 crore (US$ 120 million) to Rs. 4,447 crore (US$ 520 million) over the same period.
Exports to the Netherlands rose from Rs. 9,151 crore (US$ 1.07 billion) to Rs. 18,814 crore (US$ 2.2 billion), Italy from Rs. 6,157 crore (US$ 720 million) to Rs. 10,775 crore (US$ 1.26 billion), and the Czech Republic from Rs. 5558 crore (US$ 650 million) to Rs. 10,005 crore (US$ 1.17 billion). This surge underscores India’s transformation into a global smartphone manufacturing and export hub. Government officials attribute the rise to policies like the Production-Linked Incentive (PLI) scheme, which has boosted investments, expanded local production, and strengthened India’s integration into global value chains. With continued policy support and expanding market demand, smartphones are set to remain a critical component of India’s export basket in the years ahead.

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