India's Smartphone Exports Exceed Expectations, Reach $21 Billion In 11 Months Of FY25

Independent estimates said that Apple Inc accounted for Rs 1.25 trillion of overall exports, with iPhone shipments making up almost 70 per cent of all smartphone exports during the reviewing period.

The third quarter of FY25 set a new benchmark, with monthly smartphone exports consistently surpassing $2 billion.

Source : Freepik

India's mobile phone exports saw an unprecedented surge in the first 11 months of the 2024-25 financial year (FY25), reaching an impressive Rs 1.75 trillion ($21 billion).

This figure exceeded the initial forecast made by Minister for Electronics and Information Technology, Ashwini Vaishnaw, who predicted exports would reach $20 billion for the entire fiscal year.

Notably, with a month still remaining, the actual figure for smartphone exports is well on its way to surpass the expectations by a huge margin.

According to data from the India Cellular & Electronics Association, this represents a 54 per cent jump in mobile phone exports compared to the first 11 months of the previous financial year, reported Business Standard.

Independent estimates identified Apple Inc as the dominant player in the sector. The company accounted for Rs 1.25 trillion of overall exports, with iPhone shipments making up almost 70 per cent of all smartphone exports during the period under review. These estimates are based on the export figures submitted by Apple's suppliers to both central and state governments.

The first quarter of FY25 saw mobile phone exports reach $4.85 billion, a 30 per cent increase over the corresponding quarter in FY24. By the end of the first six months, total exports rose to $8.4 billion, once again reflecting a 30 per cent growth in comparison to the first half of the 2023-24 fiscal year.

Smartphone Exports Reached Record High In Q3FY25 

The third quarter of FY25 set a new benchmark, with monthly smartphone exports consistently surpassing $2 billion. In total, exports for this quarter amounted to $6.8 billion, making it the most successful quarter in India's smartphone export history.

The momentum continued into the fourth quarter, with the industry adding another $5.6 billion in just two months, pushing cumulative exports to $21 billion.

Since October 2024, India’s smartphone exports have consistently exceeded $2 billion per month. To put this into perspective, the highest monthly export in FY23 stood at $1.64 billion, while FY24 saw a peak of $1.9 billion.

Apple's manufacturing partners—Foxconn, Tata Electronics, and Pegatron—were responsible for approximately 70 per cent of total smartphone exports. The remaining share came largely from Samsung and various Indian brands engaged in merchandise exports, estimates revealed.

India's Major Markets For Smartphone Exports

The US and Europe continue to be the primary destinations for India's smartphone shipments. Encouraged by the success of domestic smartphone production, the government is actively considering a production-linked incentive scheme to further strengthen the manufacturing ecosystem. If implemented, this initiative could increase value addition and open up significant opportunities for Indian micro, small, and medium enterprises to integrate into global supply chains.

Estimates suggested that 50–55 per cent of India’s smartphone exports are directed to the US, with Apple iPhones leading the way. Notably, in terms of Harmonized System codes, smartphones have now become India's largest export to the US, surpassing non-industrial diamonds.

This development has also been a focal point in discussions between India and the US as they work towards finalising a bilateral trade agreement aimed at expanding economic ties.