Have Smartphones Surpassed Oil and Diamonds as India’s Leading Export in FY25?
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Synopsis
In a remarkable shift, smartphones have outpaced oil and diamonds to become India’s top export in FY25. This surge is driven by government initiatives and the strong manufacturing capabilities of brands like Apple and Samsung. Discover how this trend is reshaping India’s export landscape and the implications for the tech industry.
Key Takeaways
- Smartphones are now India's leading export, surpassing oil and diamonds.
- Exports rose by 55% to $24.14 billion in FY25.
- The US and Japan are key markets, showing remarkable growth in shipments.
- Government initiatives like the PLI scheme have played a pivotal role.
- Premium smartphone demand is on the rise, with an ASP of $274.
New Delhi, May 19 (NationPress) Smartphones have officially claimed the title of India’s top exported product in FY25, surpassing traditional stalwarts such as petroleum and cut diamonds, according to the latest figures released by the government.
Fueled by government initiatives and robust domestic production from tech giants like Apple and Samsung, smartphone exports surged by 55 percent to $24.14 billion in 2024-25, compared to $15.57 billion the previous year and $10.96 billion in 2022-23.
The data reveals that the United States and Japan experienced the most significant increases in shipments over the last three years.
Exports to the US skyrocketed nearly fivefold, jumping from $2.16 billion in FY23 to $10.6 billion in FY25.
In a similar vein, shipments to Japan quadrupled, rising from a mere $120 million to $520 million during the same timeframe.
This remarkable growth can be primarily attributed to the government’s Production-Linked Incentive (PLI) scheme, which has successfully attracted foreign investments, enhanced domestic manufacturing capabilities, and integrated Indian production into global supply chains.
As reported by Counterpoint Research, Apple and Samsung accounted for an astonishing 94 percent of India’s smartphone exports in 2024.
Their ongoing investments in local production have been crucial to establishing smartphones as the nation’s leading export.
Shipments of Made-in-India smartphones increased by 6 percent year-on-year in 2024, the report noted.
In FY25, India witnessed a surge in demand for premium smartphones, particularly from Apple.
According to a recent report from IDC, Apple achieved the highest growth among all brands in the January-March 2025 quarter, delivering a record 3 million iPhones.
The iPhone 16 emerged as the most shipped model, taking up 4 percent of all smartphone sales during this quarter.
Furthermore, India's smartphone market is shifting towards more premium offerings, with the average selling price (ASP) reaching $274 in Q1 2025, while the premium segment ($600–$800) experienced nearly 79 percent growth.
Apple’s iPhone 13 and 16 have dominated this segment, further bolstering the company's market share.
Point of View
I believe the rise of smartphones as India's leading export is a testament to the nation's growing capabilities in technology and manufacturing. The government's strategic initiatives, particularly the PLI scheme, have not only attracted global investments but have also positioned India as a key player in the global supply chain. This trend reflects a shift towards innovation and economic diversification, which is essential for sustainable growth.
NationPress
23/07/2025
Frequently Asked Questions
What factors contributed to smartphones becoming India's top export?
The rise of smartphones as India's top export is primarily attributed to government support through the Production-Linked Incentive (PLI) scheme, which has attracted substantial foreign investment and boosted local manufacturing.
Which companies are leading smartphone exports from India?
Apple and Samsung are the leading companies, together accounting for 94% of India’s smartphone exports in 2024.
How have exports to major markets like the US and Japan changed?
Exports to the US grew nearly fivefold, reaching $10.6 billion, while shipments to Japan quadrupled from $120 million to $520 million.
What is the trend in India's smartphone market?
There is a notable shift towards premium smartphone models, with the average selling price reaching a record $274 in Q1 2025.
How did Apple perform in the smartphone market recently?
Apple recorded significant growth in the January-March 2025 quarter, shipping a record 3 million iPhones, with the iPhone 16 being the top model.
