India's Smartphone Exports Surge Over 90% in November, Apple at the Forefront
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New Delhi, Dec 16 (NationPress) India has recorded a remarkable increase in smartphone exports during November this year, surpassing the Rs 20,000 crore milestone for the first time in a single month, primarily driven by Apple.
As per industry statistics, smartphone exports reached over Rs 20,300 crore, reflecting an increase of more than 90 percent compared to the same period last year. Apple was the frontrunner in exports last month, trailed by Samsung.
In November of the previous year, smartphone exports from India were greater than Rs 10,600 crore, based on the industry data.
The smartphone sector in the nation is projected to conclude 2024 with modest single-digit annual growth.
Additionally, supported by the government's Production-Linked Incentive (PLI) scheme, Apple's iPhone manufacturing in India hit $10 billion within the first seven months of the current fiscal year (FY25), with $7 billion in exports alone, marking a record.
In the last fiscal year (FY24), the tech giant produced/assembled $14 billion worth of iPhones in India, exporting over $10 billion worth of products.
According to Union Electronics and IT Minister Ashwini Vaishnaw, this achievement represents another significant milestone for the smartphone PLI scheme in just seven months.
Minister Vaishnaw stated, "$10 billion in iPhone production by Apple with $7 billion in exports. Total smartphone exports from Bharat surpassed $10.6 billion in just seven months," in a post on X last month.
India's smartphone market is anticipated to grow by 7-8 percent this year, fueled by robust demand for premium, 5G, and AI smartphones. The mobile handset sector in India is expected to sustain steady growth.
Industry experts believe that to reach the target of $500 billion in local electronics manufacturing by FY30, the industry must focus on export growth to emerge as one of the top three global exporters in this sector by 2030, particularly in mobile manufacturing.
According to data from the India Cellular and Electronics Association (ICEA), mobile phone production skyrocketed from Rs 18,900 crore in 2014-15 to an estimated Rs 4.10 lakh crore in FY24, demonstrating an astounding increase of 2,000 percent, driven by the PLI scheme.
