2024/12/17 11:30 am
India’s smartphone export recorded 92% Y-o-Y growth in November 2024 exceeding Rs. 20,000 crores. The export value for the month of November reached Rs. 20,395 crores highest ever for a single month. This computes an exponential increase from the export value of Rs. 10,634 crores in November 2023.
Apple Inc. owned the majority of the export share, accounting for Rs. 14,000 crores, while Samsung also played a significant part. Apple exported approximately 80% of the iPhone produced in India. This is notable as it exceeds the benchmark commitment of exporting 70-75% of its production value in FY25 under the Production Linked Incentive (PLI) scheme. The Silicon Valley-based tech giant earlier this year exported Rs 12000 crore in October 2024. South Korean Tech company Samsung is the second leading exporter after Apple.
Foxconn’s iPhone factory in Tamil Nadu was the largest contributor to India’s smartphone exports. Tata Electronics in Karnataka was followed by Foxconn. Pegatron was the third major exporter of Apple products.
The growth in Smartphone exports can contribute to the Production Linked Incentive (PLI) Scheme. It has propelled Smartphone exports to the third largest individual commodity export in 2019, ultimately moving electronics exports from seventh in 2019 to third in 2025.
A report published by India Cellular and Electronics Association estimated that the PLI scheme disbursed Rs 5,800 crore between 2021 and 2024, resulting in a contribution of Rs. 1.1 crore in Goods and Services Tax on mobile components. Along with that, the industry contributed 300,000 new direct jobs and 600,000 new indirect jobs under the PLI scheme, particularly young women, and first-time job holders.