India’s Smartphone Exports Hit Record Rs 20,395 Crore In November, Nearly Doubling In A Year; Apple And Samsung Drive Surge

India’s smartphone exports soared to an unprecedented Rs 20,395 crore in November 2024, marking a 92 per cent year-on-year increase compared to Rs 10,634 crore in the same month last year, according to data from industry associations. This is the first time exports have surpassed the Rs 20,000 crore mark in a single month.

Apple and Samsung led the surge, with Apple spearheading the charge. The Cupertino-based tech giant exported iPhones worth Rs 14,000 crore in November, its highest-ever monthly export value, surpassing the previous record of Rs 12,000 crore in October.

Notably, Apple exported over 80 per cent of the total production value of iPhones assembled in India by its three vendors, significantly exceeding its production-linked incentive (PLI) scheme commitment of 70-75 per cent for FY25.

Foxconn’s iPhone factory in Tamil Nadu emerged as the largest contributor to India’s smartphone exports, followed by Tata Electronics in Karnataka and Pegatron.

The PLI scheme, which has been pivotal in boosting smartphone exports, has transformed the industry, elevating smartphones from India’s 23rd-ranked export in 2019 to the third-largest individual commodity export today. Electronics exports overall have similarly climbed from seventh place in 2019 to third in FY25.

The India Cellular & Electronics Association (ICEA), in a recent assessment of the PLI scheme, highlighted its impact. “Against a total PLI disbursement of Rs 5,800 crore between 2021 and 2024, the industry contributed Rs 1.1 trillion in incremental goods and services tax and duties on mobile components,” the ICEA stated in a letter to the finance ministry and the Ministry of Electronics and Information Technology.

The scheme has also spurred job creation, generating 3 lakh direct and 6 lakh indirect jobs, with many positions filled by young women entering the workforce for the first time. Over the four-year PLI period, smartphone exports have added Rs 2.87 trillion to India’s export tally.