Boosted by PLI scheme, India's smartphone exports hit record Rs 1.5 trn

Smartphone exports during the 10 months leading up to January were 56 per cent higher than the Rs 991.2 billion recorded in the same period of FY24

Setting a new record, India's smartphone exports reached Rs 1.55 trillion during the April-January period, according to a report in The Financial Express. Boosted by the government's production-linked incentive (PLI) scheme, exports surpassed Rs 1.31 trillion in FY24. January (2025) alone recorded the highest-ever monthly exports at Rs 250 billion, marking a 140 per cent increase over January 2024.  

 

Exports during the 10 months leading up to January were 56 per cent higher than the Rs 991.2 billion recorded in the same period of FY24.  

 

Apple’s iPhone vendors accounted for nearly 70 per cent of these exports, with Foxconn’s Tamil Nadu facility contributing about half. Foxconn's exports grew by 43 per cent compared to the previous fiscal year.