Made-in-India iPhones have the loudest ring with FY25 export set to hit Rs 1.80 lakh crore

iPhone 16 smartphones

India’s mobile phone exports are ringing in massive gains, having surpassed the Rs 25,000 crore mark in January this year. The cumulative export for the fiscal FY25 is projected to reach Rs 1.80 lakh crore, which is a 40% on-year rise and an astonishing 680% growth since the introduction of the Production Linked Incentive (PLI) scheme in FY21.

The India Cellular and Electronics Association (ICEA), a leading industry body, said Apple’s iPhones contributed nearly 70 percent to the export revenue in January 2025.

One of Apple’s major contract manufacturer – Foxconn - accounted for 33 percent of the total exports for the month, equivalent to $960 million. The scorching growth in mobile phone export has meant that the category is the most significant driver of electronics exports out of India, with the US emerging as a key market for India-made smartphones.

According to ICEA Chairman Pankaj Mohindroo, smartphones are poised to become India’s top export commodity for the first time ever.

Peak Production

India’s mobile phone production is set to hit Rs 5.10 lakh crore in FY25, further paving the way towards India’s status as a major global manufacturer. Since the launch of the PLI scheme, production has more than doubled from Rs 2.20 lakh crore in FY21 to Rs 4.22 lakh crore in FY24.

The growth has been a result of strong government-industry partnership, with India’s smartphone manufacturers consistently delivering globally-competitive products, said industry representatives.

“We have achieved substantial scale, thanks to government support and the industry's capabilities,” ICEA’s Mohindroo said.

“The next phase will focus on enhancing competitiveness, expanding production, and strengthening the supply chain to drive India toward its ambitious $500 billion electronics manufacturing target. Our goal is to become the largest smartphone exporter globally.”

ICEA has cautioned against complacency, emphasizing on the need for decisive action in current geopolitical landscape. “The opportunities ahead are immense, but the window is short — we must act swiftly,” ICEA Chairman said.