India’s smartphone exports have surged to ₹1 trillion in the first 5 months of FY26, marking a 55% year-on-year growth. This significant milestone underscores the expanding scale of India’s smartphone manufacturing industry, driven by the Production Linked Incentive (PLI) scheme and strong contributions from Apple’s contract manufacturers, including Tata Electronics and Foxconn.
From April to August 2025, smartphone exports reached ₹1 trillion, compared to ₹64,500 crore during the same period in FY25. This represents an impressive 55% increase, despite ongoing challenges such as US tariff disputes. The sharp rise in exports signals India’s growing competitiveness in the global smartphone market.
Notably, Apple’s contract manufacturers, Tata Electronics and Foxconn, accounted for nearly ₹75,000 crore of this total, or approximately 75% of the total smartphone exports during the five-month period. This highlights the dominant role of Apple’s suppliers in India’s export performance.
The PLI scheme has been a key driver behind this growth, fostering larger-scale manufacturing, deeper local ecosystems, and predictable export momentum. The scheme has spurred domestic production and helped companies scale up their operations, with an increasing number of applications exceeding ₹50,000 crore for electronic components production linked to the incentive framework. This is helping to localise India’s upstream manufacturing capabilities.
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Apple’s contract manufacturers have been pivotal in propelling the rise in smartphone exports. In FY26 Q1, smartphone exports reached $7.72 billion, with Apple vendors making up approximately 78% of the exports, a trend that has continued into the subsequent months. Apple-led iPhone exports have been the primary contributor to the record growth seen in the first five months of FY26.
Despite concerns over the broader export landscape, including the impact of US tariffs on trade, India’s smartphone sector has shown resilience. There are also reports indicating a growing share of India-made smartphones in the US market, driven by Apple’s increasing reliance on India for iPhone production and export.
India’s smartphone export sector has achieved a major milestone, crossing ₹1 trillion in exports in the first five months of FY26. The contribution of Apple’s contract manufacturers, Tata Electronics and Foxconn, has been instrumental, bolstered by the PLI scheme, which continues to support both the scale and localisation of the industry. With the global smartphone market dynamics shifting, India’s growing role as a key production hub is becoming increasingly evident.
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Published on: Sep 15, 2025, 4:02 PM IST
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