India’s electronics exports set to exceed ₹3 lakh cr in FY25, driven by smartphone boom
New Delhi: India’s electronics exports are poised to surpass ₹3 lakh crore for the first time in FY25, with April-February figures indicating near-certain record achievement, Financial Express reported.
Exports reached ₹2.87 lakh crore in the first 11 months, reflecting a 35% increase from ₹2.11 lakh crore in the same period last year.
This surge comes even as overall merchandise exports remained flat, underscoring the effectiveness of government initiatives, particularly the Production-Linked Incentive (PLI) scheme for smartphones, introduced in 2021 by the Ministry of Electronics and IT (MeitY).
Smartphones continue to drive growth, accounting for ₹1.75 lakh crore of exports in FY25 (April-February)—60% of total electronics exports.
In FY24, smartphone exports stood at ₹1.3 lakh crore, making up 54% of the ₹2.41-lakh-crore electronics exports.
Among manufacturers, Apple dominates, with iPhone exports reaching ₹1.25 lakh crore in FY25 (April-February), contributing 43% of total electronics exports and 70% of smartphone exports.
This figure is expected to climb further once final numbers are reported in March.
The electronics sector has also gained prominence in India’s export rankings. At the end of FY24, it was the fifth-largest export category, behind engineering goods, petroleum, gems & jewellery, and chemicals.
By FY25, it has surged to third place, overtaking gems & jewellery and chemicals, trailing only engineering goods and petroleum.
Notably, the gap between petroleum and electronics exports is narrowing sharply.
In FY24, petroleum exports exceeded electronics exports by ₹4.4 lakh crore, but in FY25 (April-February), the difference has dropped to ₹2 lakh crore.
Buoyed by this unprecedented growth, the Indian government is actively considering a component development scheme to strengthen the supply chain, enhance resilience, and deepen the electronics ecosystem.
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