India Becomes Third Largest Smartphone Exporter
India has become the third-largest smartphone exporter, rising from 23rd position since 2019. In November 2024, exports surpassed ₹20,000 crore in a single month. This achievement reflects the success of the Production-Linked Incentive (PLI) scheme, which boosts domestic manufacturing by incentivizing incremental sales of locally produced goods. India’s smartphone export target for FY 2024-25 is 70-75% of production value. This growth contributes to job creation, trade balance improvement, and economic stability. Strengthened by continued innovation, competitive pricing, and robust infrastructure, India is poised to solidify its position as a global manufacturing hub.
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