India's smartphone exports achieved a historic milestone in November 2024, surpassing the Rs 20,000 crore mark. This represents an impressive 92% increase compared to the Rs 10,634 crore recorded during the same period last year, according to a report by the Business Standard.
Apple emerged as the frontrunner in November, with exports worth Rs 14,000 crore, the highest ever for the company in India. This figure surpasses its previous record of Rs 12,000 crore in October and represents over 80 per cent of the production value of iPhones assembled in India. Image Credit: Reuters
The figures, derived from industry associations and company submissions, highlight the rapid growth of India’s smartphone manufacturing industry, driven by global leaders such as Apple and Samsung.
Apple Drives Export Growth
In November, Apple emerged as the leader in exports from India, recording an all-time high of Rs 14,000 crore. This surpassed its previous best of Rs 12,000 crore in October and accounted for over 80% of the production value of iPhones assembled in the country.
This milestone was driven by Apple’s vendors—Foxconn, Tata Electronics, and Pegatron—with Foxconn's Tamil Nadu facility making the largest contribution. The achievement significantly exceeded Apple’s production-linked incentive (PLI) scheme target of exporting 70-75% of production value for FY25.
Samsung, along with Indian manufacturers and other trade contributions, made up the rest of the smartphone export share. Together, Apple and Samsung dominated the sector, underscoring India’s rising prominence as a global hub for smartphone manufacturing.
Driving Success with the PLI Scheme
India’s smartphone Production Linked Incentive (PLI) scheme has significantly reshaped the sector, elevating it from the country’s 23rd-ranked export in 2019 to the third-largest individual commodity export today. The scheme’s incentives have also boosted overall electronics exports, which have climbed from seventh place in 2019 to third position in FY25 so far.
Data from the India Cellular & Electronics Association highlights the scheme’s impact, with Rs 1.1 trillion generated in incremental GST and duties on mobile components since its launch. Over the past four years, the sector has recorded Rs 2.87 trillion in exports while creating 300,000 direct jobs and 600,000 indirect jobs. Remarkably, many of these opportunities have been taken up by young women, often joining the workforce for the first time.
A Promising Future for Indian Electronics
India's electronics sector is undergoing a remarkable transformation, driven by record-breaking exports and the substantial economic impact of the PLI scheme. The rapid growth in smartphone manufacturing and exports highlights the nation's increasing competitiveness in global supply chains.
With Apple, Samsung, and other manufacturers expanding their operations, India is poised to solidify its role as a major exporter of high-value electronics in the years ahead.
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