India’s electronic exports have surpassed the Rs 2.5 lakh crore mark for the first time, overtaking the previous year’s figure of Rs 2.4 lakh crore within just 10 months of the current fiscal year, the Economic Times reported.
Smartphone exports, driven by Apple’s iPhone sales, have played a major role in this surge. In FY25, the contribution of smartphones to India’s electronic exports has risen to 60%, up from 52% in the previous fiscal year.
Notably, India’s electronic exports have become the fastest-growing segment among the country’s top 10 export categories.
Smartphone Exports
Smartphone exports for the first ten months of the current fiscal year amounted to Rs 1.55 lakh crore. January marked a record high for smartphone exports, with outbound shipments reaching Rs 25,000 crore, of which iPhones accounted for over Rs 16,500 crore.
Driven by smartphone sales, electronics exports for the month saw a substantial 85% increase, rising to Rs 35,416 crore.
India Cellular and Electronics Association (ICEA) attributed this growth to the Production Linked Incentive (PLI) scheme, highlighting that mobile phone production in India has doubled from Rs 2.2 lakh crore in FY 2023-24 to Rs 4.2 lakh crore. The association projects production to further rise to approximately Rs 5.1 lakh crore in FY 2024-25, reinforcing India’s position as a leading global manufacturing hub.
iPhone’s Contribution
Apple is expected to generate $11bn in revenue from iPhone sales this year, an increase from $9bn last year, according to industry experts cited by Mint.
The growth is expected to be driven by the newly launched iPhone 16e, an upgraded version of Apple’s budget-friendly models such as the iPhone SE and iPhone 14. Priced Rs 20,000 lower than the iPhone 16, the 16e is designed to target emerging markets like India.
Analysts at market research firm International Data Corp. (IDC) estimate that Apple sold approximately 12 million iPhone units in India last year. While this figure is significantly lower than Vivo and Samsung, the iPhone’s average selling price is nearly three times the industry standard, making Apple the highest-earning smartphone brand in the country.
With its competitive pricing and enhanced features, the iPhone 16e is expected to appeal to Vivo and Samsung’s mid-range customer base. Industry experts predict Apple will sell around 15 million iPhone units this year, further boosting its revenue.
