India’s mobile phone exports hit an all-time high of $20.4 billion in 2024, driven by impressive overseas shipments from tech giants Apple and Samsung. According to industry data, the world’s second-largest smartphone producer recorded a 44% increase in exports compared to $14.2 billion in 2023.
A rare export success amid flat growth
This surge in mobile phone exports stands out as a rare success story amidst otherwise flat export growth across various sectors.
“This landmark achievement of crossing $20 billion in mobile exports comes just three years after the launch of the production-linked incentive (PLI) scheme in 2021,” an official remarked.
Apple and Samsung drive the export boom
Apple led the charge, accounting for 65% of India’s mobile phone exports in 2024. Samsung followed with a 20% share, while Indian manufacturers and some re-exports made up the remaining 15%. According to reports, Apple exported $12.8 billion worth of smartphones, while Samsung contributed nearly $4 billion.
Among Apple’s suppliers in India, Foxconn produced 35% of its iPhones, Tata Electronics 19%, and Pegatron 11%. All three companies are part of the smartphone PLI scheme.
Monthly export growth and seasonal trends
India’s smartphone exports rose every month in 2024 compared to the previous year. The highest export volumes occurred during the December quarter, spurred by shipments to the US, Europe, and Japan for festive sales during Thanksgiving, Christmas, and New Year.
Conversely, exports typically slow in September as factories transition machinery for new models launched in September or prioritise stock for domestic festivals such as Dussehra, Diwali, Ganesh Chaturthi, and Onam.
Mobile phones: A pillar of India’s export economy
The consistent growth in smartphone exports has propelled electronics to the third-largest category in India’s export portfolio, trailing only engineering goods and petroleum products.
The industry has also generated 300,000 direct jobs and 600,000 indirect jobs since the introduction of the PLI scheme. It is now the leading employment and skill development source for women in mid-skilled, blue-collar roles.
Apple’s local production surge
Apple’s success has been a standout. Depending on the model, the company achieved 15-20% local value addition and ramped up its domestic production to $17.5 billion in 2024.
India’s mobile phone industry continues to make significant strides, with the PLI scheme playing a pivotal role in its remarkable growth.
