India’s smartphone exports soar, surpassing petroleum products, diamonds for fiscal 25
New Delhi: Government data shows that India’s smartphone exports have soared nearly five times to the United States and about four times to Japan in the past three years, bringing the segment to surpass petroleum products and diamonds as the country’s highest exports.
Smartphone exports rose 55% to $24.14 billion in 2024-25 from $15.57 billion in 2023-24, and $10.96 billion in 2022-23.
In the last fiscal year, India’s top five countries that achieved the highest growth in smartphone exports were the United States, the Netherlands, Italy, Japan and the Czech Republic.
U.S. exports alone rose from $2.16 billion in 2022-23 to $5.57 billion in 2023-24 and $10.6 billion in 2024-25.
Japan also registered export growth, where goods soared from $120 million in 2022-23 to $520 million in fiscal 250.
“This rapid rise has pushed smartphones to become one of India’s most important commodities, surpassing traditional leaders such as petroleum products and diamonds for the first time,” a commerce ministry official said.
The official said the industry’s exports have experienced a healthy surge in the past three years, turning the country into a major manufacturing and export hub around the world.
This growth is based on government initiatives such as the Production-linked Incentives Programme (PLI) program, which stimulates investment, expands local production and further integrates India into global value chains.
In the last fiscal year, Dutch exports increased to US$1.07 billion in 2022-23. Similarly, goods to Italy rose from $720 million to $1.26 billion. Data shows that in the Czech Republic, goods rose from US$650 million to US$1.17 billion.
