India's mobile phone exports are expected to cross ₹1,80,000 crore during the current financial year (FY25), which is a 40% increase from the corresponding period last year, based on industry data out on Tuesday.
During April to January of this financial year, the nation has already seen ₹1,50,000 crore worth of mobile exports, while January alone contributed more than ₹25,000 crore, according to data with the India Cellular and Electronics Association (ICEA).
Ever since the Production-Linked Incentive (PLI) scheme was introduced in FY20-21, mobile exports have increased by a whopping 680%, with mobile phones being the growth leader in the electronics industry. The United States continues to be an important market for India's smartphone exports.
This phenomenal growth reflects the transformative impact of the PLI scheme, which has radically transformed India's electronics manufacturing sector. Mobile phone manufacturing in India has doubled since its introduction—from ₹2,20,000 crore to ₹4,22,000 crore—setting a historic record.
Production is expected to cross about ₹5,10,000 crore in FY24-25, further establishing India as a global manufacturing hub.
Our sector has gained considerable size, underpinned by a supportive government and robust domestic capabilities. In the future, our emphasis will be on improving competitiveness, increasing production, and building supply chains," said Pankaj Mohindroo, Chairman of ICEA.
The next level of expansion will entail deeper integration within the global value chain, increasing domestic value addition, and driving India towards its aspirational $500 billion electronics manufacturing goal. The long-term vision is to make India the world's largest smartphone exporter, he stated.
This unprecedented success is a product of a vibrant collaboration between the government and an industry that has always proved itself capable of manufacturing globally competitive smartphones.
For the first time in history, smartphones are poised to become India's leading export commodity—demonstrating the country's remarkable evolution in standalone manufacturing capabilities.
"Only the journey has just started, and we cannot rest on our laurels. There are huge opportunities waiting for us, but with the fast-shifting geopolitical order, we have a narrow window of opportunity to take advantage of them. We have to move decisively," Mohindroo stressed.
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