In a dramatic shift in India’s export landscape, smartphones have surged past petroleum products and diamonds to become the country’s #1 export item, according to recent government data.
Fueled by booming global demand and policy-driven momentum, India is fast emerging as a global smartphone manufacturing powerhouse.
Key Highlights:
- Massive Growth in Smartphone Exports
- 2024–25: $24.14 billion
- 2023–24: $15.57 billion
- 2022–23: $10.96 billion
- 55% year-on-year jump in 2024–25
- The US & Japan Lead the Surge
- USA:
- 2022–23: $2.16B → 2024–25: $10.6B (nearly 5x growth)
- Japan:
- 2022–23: $120M → 2024–25: $520M (4x increase)
- Europe Joins the Party
- Netherlands: $1.07B → $2.2B
- Italy: $1.07B → $1.26B
- Czech Republic: $1.07B → $1.17B
- Policy Push Pays Off
- The Production-Linked Incentive (PLI) scheme has played a pivotal role
- Attracted new investments
- Boosted local manufacturing
- Strengthened India’s role in global supply chains
- Historic First
- Smartphones now surpass petroleum and diamonds traditionally India’s top exports
“This rapid ascent is transforming India into a key global hub for smartphone manufacturing and exports,” said a senior Commerce Ministry official.