India's Smartphone Export Boom: A New Export Powerhouse
India's smartphone exports have dramatically surged, overtaking petroleum and diamonds as the top exported goods. Government data reveals a significant increase in shipments to countries such as the US and Japan, driven by initiatives like the Production-Linked Incentive scheme, enhancing India's role in the global market.
- Country:
- India
In a remarkable shift in India's export landscape, smartphones have soared past traditional leaders like petroleum products and diamonds to become the nation's top exported goods. The surge is highlighted by a nearly fivefold increase in exports to the US and a fourfold boost to Japan in the past three years, according to government data.
The fiscal year 2024-25 saw smartphone exports climbing by 55% to USD 24.14 billion, from USD 15.57 billion the previous year. This upward trajectory underscores India's emergence as a major global manufacturing and export hub, fueled by the government's strategic initiatives like the Production-Linked Incentive (PLI) scheme.
The top five countries witnessing the highest growth in Indian smartphone exports included the US, the Netherlands, Italy, Japan, and the Czech Republic. Exports to the US alone rose significantly, from USD 2.16 billion in 2022-23 to USD 10.6 billion in 2024-25. Meanwhile, shipments to Japan leaped from USD 120 million in 2022-23 to USD 520 million in the last fiscal, underscoring India's expanding footprint in the global market.
(With inputs from agencies.)
- READ MORE ON:
- India
- smartphone
- exports
- growth
- government
- US
- Japan
- PLI
- global
- market
Google News