In October of FY 25, India’s smartphone exports exceeded the $2 billion mark, recording the highest monthly exports. According ti the Indian Cellular and Electronics Association (ICEA), the exponential growth in sales underscores the country’s growing prominence in supply chains capabilities and improved global trade relationships with other countries.
India’s total exports of smartphones exceeded $10.6 billion in the first seven years of FY-25, marking a 37 percent rise in exports since the previous year’s exports of $7.8 billion during the same period. India recorded its largest ever monthly exports of smartphones, primarily on the back of the increased production by Apple factories in India. Smartphone exports recorded a 23 percent hike from the previous high of $1.78 billion in May 2024, and a 70 percent increase compared to $1.2 billion in exports in Oct 2023.
The export volume is expected to grow in the near future. In FY 24 India’s total smartphone exports exceeded more than $15 billion in value with Apple smartphones making up more than $10 billion of the total value. If this upwards trend holds steady, exports are projected to rise to anywhere in the range of $18 billion to $20 billion in FY 25. India will export 35 percent of its total manufacturing capacity during this time.
Apple is the largest player in smartphone manufacturing accounting for more than two-thirds of the total smartphone production in the country. While, other key players like Foxconn, Pegatron and Tata Electronics are big drivers of the growth. Apple has exported $1 billion worth of products from its manufacturing plants in the country.
According to the industry estimates and data, Foxconn contributed one-third of $10.1 billion exports, while Tata Electronics made up more than 20 percent of the total exports. Another key player in the smartphone market, Pegatron, accounted for almost eight percent of the total exports in the country. Foxconn saw a major spike in the exports volume, exporting more than 35 percent more than it did in the previous, while Tata Electronics saw the largest increase of all companies, with a 115 percent hike in the total exports in FY24.
While, another big player in the Indian market, Samsung, contributes nearly 22 percent of the total exports in the smartphone exports company, while the remaining share of exports were made by Indian domestic suppliers.
The growing smartphone exports in the country comes as a sign of India’s growing influence in the smartphone market. The growing export numbers are enabled by India’s growing supply chain and logistical capacities owing to the increase in the number of ports in the country.
The rise in the share of smartphone exports comes as a sign of the country’s improved logistical and supply chain capabilities. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
