New Delhi: India has become the 3rd largest exporter of smartphones in the world. India was on the 23rd rank in 2019. The country’s smartphone exports have also breached the Rs 20 thousand crore mark in a single month, in November 2024.
According to industry associations’ data, the country’s smartphone exports were recorded at Rs 20 thousand 395 crore last month. This is a 92 per cent increase over the same month last year. In November 2023, it was at Rs 10 thousand 634 crore.
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Smartphones are now the fourth-largest export item from India with 42 per cent growth to $15.6 billion in FY24. While India’s top export items are dominated by petroleum products, smartphones replaced motor gasoline to become the fourth-largest exported commodity in FY24.
According to commerce department data, the spike in smartphone exports was driven by a 158 per cent increase in shipments to the US at $5.6 billion, followed by the United Arab Emirates ($2.6 billion), the Netherlands ($1.2 billion), and the UK ($1.1 billion). The value of mobile devices produced in India for both export and domestic markets in FY24 soared to Rs 4.1 trillion ($49.16 billion), up at least 17 per cent year-on-year (Y-o-Y), according to preliminary estimates by the Indian Cellular and Electronics Association (ICEA).
Apple has led the charge in exports, with the value of outbound shipments of mobile devices expected to have crossed Rs 1.2 trillion ($14.39 billion) in FY24, up 33 per cent from Rs 90,000 crore in FY23. Exports in FY24, based on the early estimates, accounted for nearly 30 per cent of the total output value, up from 25 per cent in FY23, according to ICEA data.
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