 "India's smartphone exports crossed Rs 20K crore mark in November, jumped almost 100% in a year")
India’s smartphone exports have reached an unprecedented milestone, crossing the Rs 20,000 crore mark in November 2024. This marks a remarkable 92 per cent growth compared to the Rs 10,634 crore recorded in the same month last year, as per a report by the Business Standard.
The data, compiled from industry associations and company submissions, reflects the booming success of India’s smartphone manufacturing sector, led by global giants like Apple and Samsung.
Apple leads the export surge
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.
Apple’s vendors—Foxconn, Tata Electronics, and Pegatron—played a pivotal role in this achievement, with Foxconn’s Tamil Nadu facility being the single largest contributor. This performance far exceeds Apple’s production-linked incentive (PLI) scheme commitment of exporting 70-75 per cent of production value for FY25.
Samsung, alongside Indian manufacturers and other trade contributions, accounted for the remaining share of smartphone exports. Together, Apple and Samsung dominated the sector, cementing India’s growing role as a global smartphone manufacturing hub.
The PLI scheme driving success
India’s smartphone PLI scheme has been a game-changer, transforming the sector from the country’s 23rd-ranked export in 2019 to the third-largest individual commodity export today. The scheme’s incentives have propelled electronics exports as a whole, moving them from seventh place in 2019 to third so far in FY25.
According to the India Cellular & Electronics Association, the industry has achieved Rs 1.1 trillion in incremental goods and services tax and duties on mobile components since the scheme’s implementation. The sector has also generated Rs 2.87 trillion in exports over the past four years, creating 300,000 direct jobs and 600,000 indirect jobs. Notably, many of these roles have gone to young women entering the workforce for the first time.
A bright future for Indian electronics
With exports breaking records and the PLI scheme delivering substantial economic benefits, India’s electronics sector is experiencing a significant transformation. The surge in smartphone manufacturing and exports underscores the country’s growing competitiveness in global supply chains.
As Apple, Samsung, and other manufacturers continue to scale their operations, India’s position as a leading exporter of high-value electronics is set to strengthen further in the years to come.
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