PLI Initiative Boosts ‘Made in India’ Smartphone Shipments by 6%
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Synopsis
The 'Made in India' smartphone sector saw a 6% year-on-year growth last year, primarily driven by Apple and Samsung exports. The PLI scheme has spurred local manufacturing, with significant contributions from companies like Foxconn and Tata Electronics. The outlook for 2025 remains positive with expected double-digit growth in production.
Key Takeaways
- 6% growth in 'Made in India' smartphone shipments.
- Apple and Samsung dominate with 94% of exports.
- The PLI scheme boosts local manufacturing.
- Foxconn's production increased by 19% YoY.
- Tata Electronics achieved 107% growth.
New Delhi, March 20 (NationPress) The shipments of ‘Made in India’ smartphones rose by 6 percent year-on-year last year, propelled by the growing exports from Apple and Samsung, as reported on Thursday.
According to Counterpoint Research’s ‘Make in India’ Service report, Apple and Samsung together represented approximately 94 percent of India’s smartphone exports in 2024.
Both companies have greatly enhanced their manufacturing capabilities in India to support the nation’s goal of decreasing import dependence and bolstering its role in global supply chains.
The government’s Production-Linked Incentive (PLI) scheme has motivated international manufacturers to either establish or expand their production facilities in the country, leading to a rise in local manufacturing.
“India stands out as an attractive manufacturing hub due to its vast domestic market, low labor costs, and supportive government initiatives aimed at boosting local production,” stated senior research analyst Prachir Singh.
Smartphone production in India is projected to experience double-digit growth in 2025, with a rise in local value addition, he noted.
Foxconn Hon Hai saw its manufacturing volumes increase by 19 percent year-on-year in 2024, backed by Apple.
“Foxconn plans to set up a smartphone display module assembly to strengthen local manufacturing capabilities,” remarked research analyst Tanvi Sharma.
Tata Electronics was the fastest-growing manufacturer in 2024, achieving a remarkable 107 percent year-on-year growth, primarily thanks to the iPhone 15 and iPhone 16.
The company has broadened its iPhone assembly operations and has entered into semiconductor fabrication with a new plant in Dholera, Gujarat.
In the overall mobile handset segment (including smartphones and feature phones), Dixon emerged as the leading manufacturer with strong shipments from Transsion brands and Motorola, according to the report.
In 2024, Samsung continued to reinforce its position as a key player in India’s electronics manufacturing, registering a 7 percent year-on-year growth attributed to increased exports.
Vivo secured the second position with a 14 percent growth, achieving a 14 percent shipment share due to its expansion in offline retail and improvement in its distribution network.
