According to Ashwini Vaishnaw, Union Minister of Electronics and Information Technology, Information and Broadcasting and Railways, India’s smartphone exports have exceeded Rs 200 billion mark in November 2024, for the first time in a single month, driven primarily by Apple.
The total exports amounted to Rs 203.95 billion, reflecting a significant increase of over 90 per cent compared to the same month last year when exports were around Rs 106.34 billion. Following Apple, Samsung also contributed significantly to these exports.
Further, the smartphone market in India is projected to conclude 2024 with single-digit annual growth. Meanwhile, bolstered by the government’s production-linked incentive (PLI) scheme, Apple’s iPhone production in India has hit $10 billion within the first seven months of the current fiscal year (FY25), with $7 billion attributed to exports alone. In FY24, Apple manufactured and assembled iPhones worth $14 billion in India, exporting over $10 billion.
Furthermore, the Indian smartphone market is anticipated to grow by 7-8 per cent this year, fueled by strong demand for premium, 5G, and artificial intelligence (AI)-enabled smartphones. Overall, the mobile handset market in India is expected to maintain steady growth. According to data from the India Cellular and Electronics Association (ICEA), mobile phone production surged from Rs 189 billion in 2014-15 to an estimated Rs 4.10 trillion in FY24, marking an increase of 2,000 per cent, largely driven by the PLI scheme.
