India's Electronics Exports to Cross ₹3L Cr in FY25 Driven by Smartphones

In a major advancement for domestic production, the nation is about to see its electronics exports exceed Rs 3 lakh crore for the first time this fiscal year (FY25), driven by smartphones.

According to the most recent industry data, electronics exports touched Rs 2.87 lakh crore during the 11 months of FY25 (April-February), marking a remarkable increase of 35 percent from Rs 2.11 lakh crore in the corresponding period of the previous fiscal (FY24).

With Rs 1.75 lakh crore, smartphones remain the leading contributor to the growth of electronics exports during the April-February period, as per industry statistics. It represents a 54 percent increase compared to the figure for the identical period of FY2023-24.

In the initial 11 months of FY25, Apple's iPhone exports hit Rs 1.25 lakh crore, accounting for 43 percent of all electronics exports and 70 percent of the overall smartphone exports.

The government projected smartphone exports to hit $20 billion (Rs 1.68 lakh crore) in 2024-25, but this forecast has already been exceeded in the first 11 months of the ongoing financial year, according to information from the India Cellular and Electronics Association (ICEA).

India's electronics goods exports, led by smartphones, have been accelerating in recent years on the back of government's production-linked incentive (PLI) scheme which has succeeded in attracting foreign tech giants such as Apple and its suppliers, looking to set up alternative supply chains outside China after the Communist country came under US sanctions.

India's electronics exports, primarily driven by smartphones, have been growing rapidly in recent years due to the government's production-linked incentive (PLI) scheme. This initiative has effectively drawn foreign technology firms like Apple and its suppliers, looking to set up alternative supply chains outside China after the Communist country came under US sanctions.

The PLI scheme has enhanced exports and decreased imports, as local production now satisfies 99 percent of domestic needs. The South Korean technology leader Samsung accounted for about 20 percent of all smartphone exports from India.

In the meantime, the production-linked incentive (PLI) programs have achieved investments of Rs 1.61 lakh crore, production worth Rs 14 lakh crore, and exports totaling Rs 5.31 lakh crore, resulting in the creation of 11.5 lakh jobs.