finance
In the fiscal year 2024-25, India reached a notable achievement with its mobile phone exports surpassing $2 billion per month since October 2024. This success reflects an impressive year-on-year growth rate of over 54–55% in FY25.
The significant increase in mobile phone exports can be primarily attributed to the Government's Production-Linked Incentive (PLI) scheme. This initiative has incentivized major manufacturers, including Foxconn, Wistron, and Pegatron for Apple devices, as well as Samsung, to participate actively in India's production landscape.
Forecasts from the India Cellular and Electronics Association (ICEA) indicate that by FY 2045-25, India is poised to export 25% of its total mobile phone production.
Mobile phones, bolstered by the PLI scheme, have become the leading segment within India's electronics export sector. Notable companies, such as Apple and Samsung, have significantly increased their export activities, sending Indian-made devices to various international markets, including the United Kingdom, the Netherlands, Austria, and Italy. This marks a notable shift from previous export patterns which predominantly targeted the Middle East, Africa, and South Africa.
Additionally, exports to the United States rose dramatically by 158% year-on-year during FY24.
The government expects that over the five-year period of the PLI scheme, there will be an incremental production value of approximately ₹10,200 crore, leading to the potential creation of around 137,000 direct jobs in the mobile phone sector.
India's mobile phone export sector is witnessing extraordinary growth, driven by effective government policies and evolving global manufacturing trends. This growth enhances India's stature in the global electronics market while simultaneously promoting economic advancement through job creation and improved production capabilities.