India's smartphone exports soar, surpassing petroleum, diamonds in FY25

The smartphone exports rose by 55 per cent to $24.14 billion in 2024-25 from $15.57 billion in 2023-24 and $10.96 billion in 2022-23

India's smartphone exports surged nearly fivefold to the US and about fourfold to Japan in the past three years, propelling the segment to surpass petroleum products and diamonds as the country's top exported goods, according to government data.

The smartphone exports rose by 55 per cent to USD 24.14 billion in 2024-25 from USD 15.57 billion in 2023-24 and USD 10.96 billion in 2022-23.

In the last fiscal, the top five nations where India registered the highest growth in smartphone exports were the US, the Netherlands, Italy, Japan, and Czech Republic. 

Exports to the US alone rose from USD 2.16 billion in 2022-23 to USD 5.57 billion in 2023-24 and USD 10.6 billion in 2024-25.

 

A significant export growth has also been registered with Japan where shipments surged from USD 120 million in 2022-23 to USD 520 million in FY25.

"This rapid ascent has propelled smartphones to become one of India's top exported goods, overtaking traditional leaders like petroleum products and diamonds for the first time," a commerce ministry official said.

Over the past three years, exports from the sector has experienced a healthy surge, transforming the country into a major global manufacturing and export hub, the official said.

This growth is underpinned by government initiatives such as the Production-Linked Incentive (PLI) scheme, which has spurred investments, scaled up local production, and integrated India more deeply into global value chains.

Exports to the Netherlands increased to USD 2.2 billion in the last fiscal from USD 1.07 billion in 2022-23. Similarly, shipments to Italy rose to USD 1.26 billion from USD 720 million. To the Czech Republic, shipments rose to USD 1.17 billion from USD 650 million, the data showed.