In November 2024, India reached a turning point in its journey as a global smartphone manufacturing hub. For the first time, the country’s smartphone exports crossed the ₹20,000 crore (US$2.39 billion) mark in a single month, registering an impressive total of ₹20,395 crore (US$2.44 billion). This achievement represents a remarkable 92% year-on-year growth compared to November 2023, when exports stood at ₹10,634 billion (US$1.27 billion).
Apple and Samsung lead the charge
The drivers of this significant growth were Apple and Samsung, with Apple’s iPhones accounting for ₹14,000 crore (US$1.67 billion) in exports. This marked a significant shift for Apple, which surpassed its Production Linked Incentive (PLI) commitment to export 70-75% of its production value by fiscal 2025, achieving over 80% of iPhone exports to India.
The remarkable performance of Foxconn’s iPhone factory in Tamil Nadu and Tata Electronics’ facility in Karnataka played a significant role in this achievement. Samsung also made a significant contribution, further cementing India’s position as a key player in the global smartphone supply chain.
Impact of the PLI program’s transformation
India’s PLI program for smartphones has proven to be one of the most successful government initiatives in recent years. Since its launch, the program has not only boosted exports but also transformed the tech sector. Smartphones have gone from being India’s 23rd largest export in 2019 to the third largest export in 2025. Similarly, overall electronics shipments have increased, moving from seventh place in 2019 to third place in fiscal year 2025.
According to the Indian Cellular and Electronics Association (ICEA), the PLI scheme has resulted in an investment of Rs 5.8 billion (US$690 million) between 2021 and 2024. This investment has generated additional goods and services tax (GST) revenue of Rs 1.1 trillion (US$13.14 billion), indicating a strong economic impact of the scheme.
Employment and economic contributions
The PLI smartphone scheme has been a game-changer in employment in India, creating around 300,000 direct jobs and 600,000 indirect jobs. A significant portion of these vacancies are filled by young women, many of whom are entering the formal sector.
Over the past four years, the industry has contributed to Rs 2.87 trillion (US$34.29 billion) in exports. These figures underscore India’s emergence as a global manufacturing powerhouse and a key player in the global electronics supply chain.
The Road Ahead
The November 2024 figure is more than just a number; it is a testament to India’s high-tech manufacturing capabilities. With continued government support, strategic partnerships and a focus on innovation, India is well positioned to continue its role as a global leader in the electronics and smartphone industry.
Conclusion
India’s record smartphone exports in November 2024 mark a new era for the country’s manufacturing and exports. As Apple, Samsung and other tech giants deepen their investments in India, the success of initiatives like the PLI scheme will pave the way for sustainable growth, job creation and global recognition. This success not only improves the level of India’s economy but also sets the stage for a bright future in the global energy ecosystem.