India’s Smartphone Exports Hit $24 Billion, Overtake Petroleum & Diamonds For Top Spot

New Delhi: India’s smartphone exports have emerged as the country’s top exported commodity in FY25, surpassing traditional heavyweights like petroleum products and diamonds, according to official government data. The sector recorded a robust 55% jump in exports to $24.14 billion in 2024-25, up from $15.57 billion in the previous fiscal and $10.96 billion in 2022-23.

This surge marks a transformative shift in India’s export basket, positioning smartphones at the forefront of the country’s global trade. The United States led this growth, with Indian smartphone exports increasing nearly fivefold over three years—from $2.16 billion in 2022-23 to $10.6 billion in FY25.

Japan also witnessed a fourfold rise, with exports climbing from $120 million to $520 million during the same period. Other countries that saw significant increases include the Netherlands (up from $1.07 billion to $2.2 billion), Italy (from $720 million to $1.26 billion), and the Czech Republic (from $650 million to $1.17 billion).

A senior official from the commerce ministry attributed this remarkable growth to a combination of factors, notably the government’s Production-Linked Incentive (PLI) scheme. "This rapid ascent has propelled smartphones to become one of India’s top exported goods, overtaking traditional leaders like petroleum products and diamonds for the first time," the official said.

The PLI scheme has encouraged global and domestic manufacturers to scale up production in India, bolstering investment and deepening integration into global supply chains. As a result, the country is fast becoming a prominent manufacturing and export hub in the global electronics ecosystem.

The export boom highlights India’s growing competitiveness in high-tech manufacturing and reflects a broader strategic shift in its economic priorities. With electronics exports playing an increasingly pivotal role in foreign trade, India is set to consolidate its position as a global player in the smartphone manufacturing value chain.

This development marks a significant milestone for India’s Make in India and Digital India initiatives, signaling a new era in the country’s export-led growth.

(With agency inputs)