Smartphones fuel 38% jump in electronics export in FY26, shows data

India's electronics exports surged 38% to $31 billion in April-November FY26, led by smartphones and Apple iPhones, narrowing the gap with petroleum exports

Electronic exports, led by smartphones, reached $31 billion in the first eight months this financial year (FY26), showing an increase of 38 per cent over the same period in 2024-25, according to figures released by the Ministry of Commerce & Industry.

Among the top 30 export items, this sector is India’s fastest-growing area in the eight-month period. 

Of the export in electronics, 60 per cent was contributed by smartphones, which rang up $18.7 billion. Of that, Apple exported iPhones worth $14 billion, which constituted more than 45 per cent of the export value of electronic items. Smartphone exports have been increasing steadily over the last five years since the launch of the production-linked incentive scheme, going up from $3 billion in FY21 to $24 billion in FY25. 

The area of electronics is closing in on petroleum, India’s second-ranked export item, with each passing month.

The reduction in gap between electronics and petroleum exports is telling. According to industry projections, electronics is expected to go ahead of petroleum by FY28, if not earlier. 

 

According to the ministry data, for the first eight months in FY25, the value of petroleum exports — of $44.58 billion — was nearly double that of electronics, which racked up $22.5 billion. 

This year, in the first eight months, petroleum exports are down 14.7 per cent year-on-year (Y-o-Y), clocking $37.9 billion. Electronics, with exports of $31 billion till November, has reduced the gap considerably with petroleum — from $22 billion in the last financial year to merely $6.9 billion in 2025-26. 

In November alone, exports of electronics grew 39 per cent Y-o-Y to reach $4.81 billion over $3.46 billion in the same month last year. At the current rate of growth, this segment is expected to reach $45 billion in FY26, according to industry estimates.

Among India’s top 30 export items, 17 have shown a positive trajectory, while 13 are down in the first eight months of FY26 over the corresponding period in FY25. 

Merchandise exports in the first eight months are up 2.62 per cent Y-o-Y to $292.07 billion over $284.6 billion in FY25.

 

Cumulative exports, including merchandise exports, during April-November are estimated at $562.13 billion as compared to $533.16 billion in April-November 2024, an estimated growth rate of 5.43 per cent.