New Delhi
India’s smartphone export figure is expected to reach $20 billion in the current financial year. The Indian smartphone market is poised to scale new heights this year, with the total value expected to cross $50 billion. The main reason for this increase is the increase in exports of Made in India iPhones. India’s total smartphone exports in FY 2024 were $15 billion, of which Apple’s contribution was about $10 billion. The growing demand for premium smartphones and emphasis on local manufacturing have led companies like Apple and Samsung to lead exports in India.
According to industry estimates, exports may cross $20 billion this financial year. The Government’s Production Linked Incentive (PLI) scheme has given a huge boost to domestic manufacturing. As a result, Apple’s iPhone exports from India touch the Rs 1 lakh crore mark in calendar year 2024. It is also noteworthy that in the last four years, the Apple ecosystem has created 1.75 lakh new jobs, of which 72 percent of the positions have been filled by women. In 2014-15, 5.8 crore mobile phones were produced in India, which increased to 33 crore units in 2023-24. During this period, there was a huge decline in imports, while exports reached 5 crore units.
Along with this, an increase of 254 percent was recorded in foreign investment (FDI), which shows the success of the PLI scheme. According to the report, 1.2 crore jobs are expected to be created in the electronics industry by 2027. These include 10 lakh engineers, 20 lakh ITI-certified professionals, and 2 lakh experts in cutting-edge technology areas like AI, ML and data science. A five-fold increase in manufacturing capacity is planned in the coming years.
This emerging scenario will not only strengthen India’s technological landscape but will also further strengthen the country’s position in the global market. Apart from this, 90 lakh indirect job opportunities will also be created in non-technical sector. India’s electronics industry aims to achieve a production of $500 billion by 2030. Currently the output of this sector is 101 billion dollars, of which mobile phones contribute 43 percent.
