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
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Finance
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.
Tata Electronics, which has ramped up production at its Karnataka unit after taking over Wistron’s operations, accounted for nearly 22 per cent. Pegatron, based in Tamil Nadu, contributed 12 per cent, with Tata Electronics recently acquiring a stake in the company. Samsung contributed around 20 per cent of total smartphone exports, while the remainder came from domestic firms and merchant exports.
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First Published: Feb 17 2025 | 2:21 PM IST
