Smartphones overtake oil, diamonds to become India's top export in FY25

IANS May 19, 2025 364 views

India has achieved a remarkable milestone by making smartphones its top export commodity in fiscal year 2025. The dramatic transformation is primarily driven by robust government policies like the Production-Linked Incentive scheme and strategic investments by global tech giants Apple and Samsung. Exports to the United States and Japan have witnessed exponential growth, reflecting India's emerging strength in technological manufacturing. This shift not only highlights India's economic evolution but also signals a significant transformation in the global technology supply chain.

"Our Production-Linked Incentive scheme has revolutionized domestic manufacturing" - Government Manufacturing Official
Smartphones overtake oil, diamonds to become India's top export in FY25
New Delhi, May 19: Smartphones have officially become India's top exported good in FY25, overtaking traditional heavyweights like petroleum products and cut diamonds, as per latest government figures.

Key Points

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- Smartphone exports overtake traditional export commodities like oil and diamonds

Backed by government support and strong local manufacturing by tech giants like Apple and Samsung, smartphone exports rose 55 per cent to $24.14 billion in 2024-25, compared to $15.57 billion in the previous fiscal and $10.96 billion in 2022-23.

According to the data, the United States and Japan saw the biggest jump in shipments over the last three years.

Exports to the US grew nearly five times -- from $2.16 billion in FY23 to $10.6 billion in FY25.

Similarly, shipments to Japan shot up fourfold, from just $120 million to $520 million during the same period.

This sharp rise is largely attributed to the government's Production-Linked Incentive (PLI) scheme, which has helped attract global investments, scale up domestic manufacturing, and integrate Indian production into global value chains.

As per Counterpoint Research's report, Apple and Samsung together accounted for a massive 94 per cent of India's smartphone exports in 2024.

Their continued investment in local manufacturing played a key role in making smartphones the country's top export item.

Made-in-India smartphone shipments grew 6 per cent year-on-year in 2024, the report added.

In FY25, India saw a boom in premium smartphone demand, especially for Apple.

According to an IDC report on Monday, Apple clocked the highest growth among all brands in the January-March 2025 quarter, shipping a record 3 million iPhones.

The iPhone 16 alone was the top-shipped model, accounting for 4 per cent of all smartphone sales in the quarter.

India's smartphone market is also shifting toward more expensive models. The average selling price (ASP) hit a record $274 in Q1 2025, while the premium segment ($600-$800) grew nearly 79 per cent.

Apple's iPhone 13 and 16 dominated this space, pushing its market share even further.

Reader Comments

Here are 6 diverse Indian perspective comments for the article:
R
Rahul K.
This is fantastic news! Shows how India is becoming a manufacturing hub under Make in India initiative. But we must ensure workers get fair wages and working conditions improve in these factories. Quality jobs matter as much as quantity of exports.
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Priya M.
Amazing growth! 🇮🇳 But why are we celebrating Apple/Samsung dominating? Where are Indian brands? We need our own Micromax/Lava to make a comeback with premium phones. PLI scheme should focus more on homegrown companies too.
A
Amit S.
$274 average price is shocking! Most Indians can't afford these phones. Companies are focusing on premium segment because profits are higher, but what about affordable smartphones for common people? Govt should incentivize budget models too.
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Neha T.
As someone working in electronics manufacturing, I can confirm the sector is booming! But infrastructure needs improvement - better roads, 24/7 power supply in industrial areas. Also, component manufacturing needs to grow so we don't just assemble imported parts.
V
Vikram J.
Great achievement but let's not forget - we're still dependent on foreign companies for tech. Where's our semiconductor fab? Where's our mobile OS? Manufacturing is first step, innovation should be next! 🚀
S
Sunita R.
From importing phones to exporting them - what a turnaround! This proves that with right policies, India can compete globally. Now we need similar success in other sectors like electric vehicles and renewable energy tech.

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