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 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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