Mobile exports grow 74% in May to record second-highest figures ever

India’s mobile phone exports surged to over Rs. 26,559 crore (US$ 3.09 billion) in May, marking a 74% YoY increase compared to Rs. 15,229 crore (US$ 1.78 billion) in the same month last year, as per industry data shared with the government. This figure is the second highest ever, just behind March’s record Rs. 26,645 crore (US$ 3.1 billion), driven by Apple’s shipments to the United States to build inventory ahead of new tariffs. In the first two months of FY26, mobile exports crossed Rs. 47,273 crore (US$ 5.5 billion), reflecting 41% growth over the corresponding period in FY25. Apple’s three vendors remain the largest contributors to this continued growth.
Since October 2024, monthly exports have consistently exceeded Rs. 17,190 crore (US$ 2 billion), reaching Rs. 20,628 crore (US$ 2.4 billion) in April, up 62% YoY. Supported by the government’s production-linked incentive (PLI) scheme, mobile exports grew from Rs.95,405 crore (US$ 11.1 billion) in FY23 to Rs. 1.34 Lakh crore (US$ 15.6 billion) in FY24 and Rs. 2.07 lakh crore (US$ 24.1 billion) in FY25. This growth has made electronics, India’s third-largest export category after engineering goods and petroleum. Electronics exports rose 47.2% to Rs. 70,995 crore (US$ 8.26 billion) in the months of April–May of FY26, making it the fastest-growing segment among India’s top 30 export categories. Mobile phones constituted 67% of electronics exports in the month of April–May of FY26, up from 59% during the same period last year. India, once 78% import-dependent for mobiles in 2014, saw transformation through the Phased Manufacturing Programme (2017) and the production-linked incentive (PLI) scheme (2020). As of 2023, 99.2% of mobile phones sold in India were domestically manufactured. While India still trails China and Vietnam in global electronics exports, the success of the smartphone PLI highlights the country’s emergence as a key player in the global supply chain

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