India's Smartphone Exports Rise, Overtaking Diamonds and Petroleum Products in FY25

India's top exports over the last three years have been smartphones, which have nearly fivefold increased to the US and around fourfold increased to Japan, surpassing more established players like diamonds and petroleum products, according to government data.

Exports of smartphones increased from $15.57 billion in 2023–2024 and $10.96 billion in 2022–2023 by 55% to $24.14 billion in 2024–2025.

The US, the Netherlands, Italy, Japan, and the Czech Republic were the top five countries in which India's smartphone shipments increased the most over the last fiscal year. From $2.16 billion in 2022–2023 to $5.57 billion in 2023–2024 and $10.6 billion in 2024–2025, India’s exports to the US alone increased.

Japan has also seen a notable increase in exports, with shipments rising from $120 million in 2022–2023 to $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," an official for the commerce ministry told PTI.

The sector's exports have grown steadily over the last three years, turning the nation into a significant hub for international manufacturing and exports, the official added.

Government initiatives like the Production-Linked Incentive (PLI) scheme, which have increased investments, scaled up domestic production, and further integrated India into global value chains, are the foundation of this progress.

Based on their ongoing growth in their domestic manufacturing operations, Apple and Samsung accounted for approximately 94% of India's smartphone exports in 2024, according to the 'Make in India' Service research from market research firm Counterpoint. According to the report, a spike in exports by the two multinational behemoths drove a 6% year-over-year increase in 2024 shipments of smartphones made in India. Growth forecast for 2025: Along with rising domestic value addition, smartphone manufacturing in India is anticipated to rise by double digits in 2025.