In FY25, India’s smartphone exports soar past $21 billion, driven by Apple’s dominance. Growth continues with $2 billion in monthly exports and strong global demand.
India’s smartphone exports have exceeded expectations, surpassing $21 billion in the first 11 months of the 2024-25 financial year (FY25), outperforming the initial target of $20 billion set by Electronics and IT Minister Ashwini Vaishnaw.
With one month still remaining in the fiscal year, exports have already surpassed last year’s figures, according to the India Cellular & Electronics Association (ICEA).
A report by the Business Standard highlighted that Apple has been the dominant player in this success, contributing approximately $12.5 billion of the total exports. Data from Apple vendors, including Foxconn, Tata Electronics, and Pegatron, indicates that these companies account for about 70 per cent of overall smartphone exports, with Samsung and local brands contributing the rest.
Smartphone exports grew steadily throughout the fiscal year, starting with $4.85 billion in Q1, marking a 30 per cent increase over the same period in FY24. By mid-year, exports had reached $8.4 billion, up from $6.5 billion in FY24. The third quarter of FY25 proved to be the strongest, with monthly exports surpassing $2 billion, contributing to a record $6.8 billion for the quarter.
As of the first two months of the final quarter, smartphone exports have already added an impressive $5.6 billion, pushing the total to over $21 billion. Monthly exports have consistently exceeded $2 billion since October 2024, a significant improvement compared to $1.64 billion in FY23 and $1.9 billion in FY24.
The primary markets for Indian smartphone exports remain the US and Europe. Given the growth in exports and manufacturing, the government is considering further expanding the sector through a production-linked incentive scheme to strengthen the ecosystem.
