NEW DELHI (Diya TV) — Smartphones have officially become India’s top exported goods in the fiscal year 2024–25 (FY25), surpassing traditional export leaders like petroleum products and polished diamonds, according to recent government trade data.
India’s smartphone exports surged 55% year-over-year to $24.14 billion in FY25, up from $15.57 billion in 2023–24 and $10.96 billion in 2022–23. This sharp growth has elevated smartphones to the top of India’s export basket for the first time, signaling a significant shift in the country’s export landscape.
A senior Commerce Ministry official told the Press Trust of India (PTI) that the sector’s rapid ascent over the past three years has transformed India into a major global manufacturing and export hub. “Over the past three years, exports from the smartphone sector have experienced a healthy surge,” the official said, highlighting the sector’s increasing contribution to the Indian economy.
The United States has emerged as the most significant growth market for India’s smartphones. Exports to the U.S. rose nearly fivefold—from $2.16 billion in 2022–23 to $10.6 billion in FY25. Japan also recorded a remarkable jump, with Indian smartphone shipments increasing from $120 million in 2022–23 to $520 million in the latest fiscal year. Other key markets showing strong growth included the Netherlands, Italy, and the Czech Republic.
Industry analysts attribute this dramatic export growth to the Indian government’s Production-Linked Incentive (PLI) scheme, which offers financial incentives to manufacturers meeting production and export benchmarks. The scheme has played a crucial role in attracting investment, scaling local production, and integrating India more deeply into global value chains.
According to Counterpoint Research’s “Make in India” service report, Apple and Samsung led the charge, accounting for nearly 94% of all smartphone exports from India in 2024. The report also noted that shipments of Made-in-India smartphones rose 6% year-over-year, fueled by global demand and the expansion of local manufacturing operations. “India is rapidly becoming a preferred manufacturing destination for global tech giants,” the report said, emphasizing the strategic importance of the country in global supply chains.
Looking ahead, smartphone manufacturing in India is expected to grow in double digits in 2025, as companies continue to increase local value addition and production capacity. Industry experts believe this trend will create more jobs, boost ancillary industries, and further cement India’s position as a global electronics manufacturing powerhouse.
With smartphones now leading the country’s exports, this marks a turning point in India’s economic narrative, signaling a shift from reliance on traditional commodities to high-value technology goods. If current trends hold, smartphones could remain India’s top export for years, defining a new era of tech-driven economic growth.
