- विज्ञापन -
New Delhi: India experienced a significant surge in smartphone exports in November, surpassing the ₹20,000 crore mark for the first time in a single month. This achievement, driven primarily by Apple, represents a more than 90% increase compared to the same month last year when exports were over ₹10,600 crore.
In November 2024, smartphone exports reached ₹20,300 crore, with Apple leading the charge, followed closely by Samsung. The country’s smartphone market is projected to end 2024 with a modest single-digit annual growth rate.
Thanks to the government’s production-linked incentive (PLI) scheme, Apple’s iPhone production in India hit $10 billion within the first seven months of the current fiscal year (FY25), with $7 billion coming from exports alone—a record achievement. In the previous fiscal year (FY24), Apple manufactured and assembled $14 billion worth of iPhones, exporting over $10 billion.
Union Electronics and IT Minister Ashwini Vaishnaw highlighted this milestone for the smartphone PLI scheme, noting that total smartphone exports from India exceeded $10.6 billion in just seven months. The Indian smartphone market is estimated to grow by 7-8% this year, fueled by strong demand for premium, 5G, and AI-enabled devices.
Experts suggest that to reach the goal of $500 billion in local electronics manufacturing by FY30, the industry must focus on boosting exports, aiming to become one of the top three global exporters in mobile manufacturing by 2030. According to the India Cellular and Electronics Association (ICEA), mobile phone production skyrocketed from ₹18,900 crore in 2014-15 to an estimated ₹4.1 lakh crore in FY24, marking a remarkable 2,000% increase, largely due to the PLI scheme.
