India’s Smartphone Market Set To Cross $50 Billion; Exports To Reach $20 Billion In FY25

India’s smartphone market, likely to surpass $50 billion in value this year, is on track to see exports reach $20 billion in FY25, largely driven by ‘Made in India’ Apple iPhones.

In FY24, smartphone exports exceeded $15 billion, with Apple contributing over $10 billion.

Industry estimates suggest this figure will rise to $20 billion in FY25, primarily fueled by the export of iPhones.

Apple and Samsung continue to lead the Indian smartphone market, benefiting from the ongoing trend of premiumization and a push for local manufacturing.

OEMs are increasingly focusing on premium launches to strengthen brand equity, showcase technological innovation, and improve profitability.

Apple’s success is also attributed to the Production-Linked Incentive (PLI) scheme.

In 2024, Apple achieved Rs 1 lakh crore in iPhone exports from India.

The scheme has significantly boosted employment, generating 175,000 new direct jobs within the Apple ecosystem, with women holding 72% of these positions, according to government data.

India’s Smartphone Market Production Grows From 5.8 Crore To 33 Crore Units

India’s domestic mobile phone production has seen impressive growth, from 5.8 crore units in 2014-15 to 33 crore units in 2023-24.

Imports have dropped significantly, and exports have reached 5 crore units. Foreign Direct Investment (FDI) has risen by 254%, highlighting the impact of the PLI scheme on manufacturing and investment.

Looking ahead, the electronics sector in India will likely create 12 million jobs by 2027, including 3 million direct roles and 9 million indirect positions.

These include nearly 1 million engineering jobs, 2 million ITI-certified roles, and 200,000 positions in specialized fields like AI, ML, and data science.

The electronics industry however aims to reach $500 billion in manufacturing output by 2030, requiring five-fold growth over the next five years to bridge a $400 billion production gap.

Currently, India’s domestic production stands at $101 billion, with mobile phones making up 43% of this total, followed by consumer and industrial electronics at 12% each, and electronic components at 11%.

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