India's Booming Smartphone Exports Reach New Heights in 2024-25

India's smartphone exports, led by iPhone shipments, surpassed Rs 2 lakh crore for FY 2024-25, marking a 54% growth. A new scheme incentivizes electronics manufacturing, with a focus on component production. The initiative aims to double value addition, supporting extensive employment and technological product inclusion.

In a notable achievement for India's electronics sector, smartphone exports exceeded Rs 2 lakh crore during the financial year 2024-25, Union Minister Ashwini Vaishnaw announced. Notably, iPhone shipments contributed approximately Rs 1.5 lakh crore to this figure, underscoring India's growing influence in the global smartphone market.

The milestone marks a 54% increase from the previous year's exports, highlighting the significant strides India's electronics manufacturing industry has made. Over the past decade, the sector has expanded with a fivefold increase in manufacturing and a sixfold rise in exports.

To further boost this momentum, the government has introduced the Passive Component Manufacturing Scheme, offering incentives worth Rs 22,919 crore. This initiative is projected to generate 1 lakh direct jobs and enhance the value addition in finished products by 20%, with a goal to double these figures in the next five years.

(With inputs from agencies.)