India's smartphone Exports Breached Rs 20K Crore Mark In November | Indian Businesses | News18

In November 2024, India achieved a historic milestone in smartphone exports, surpassing the Rs. 20,000 crore (US$ 2.39 billion) mark for the first time in a single month. The total exports reached Rs. 20,395 crore (US$ 2.44 billion), reflecting an impressive 92% increase compared to Rs. 10,634 crore (US$ 1.27 billion) in November 2023. Apple iPhones led the exports, contributing Rs. 14,000 crore (US$ 1.67 billion), while Samsung also played a significant role. This achievement marks a notable shift for Apple, as it exported over 80% of the iPhones produced in India, exceeding its commitment under the production-linked incentive (PLI) scheme to export 70-75% of its production value for FY25. The success of Foxconn’s iPhone factory in Tamil Nadu and Tata Electronics in Karnataka were pivotal in driving these exports.

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