India’s Smartphone Exports Hit Record Rs 2 Lakh Crore, Becomes One of Country’s Top Export Commodities
India has achieved a record high in its smartphone exports during the financial year 2024-25 (FY25) by crossing the Rs 2 lakh crore barrier for the first time ever, according to an announcement made by the government. This record indicates a stupendous 54% growth over the last fiscal year (FY24), making smartphones one of the leading export items of the country. Union Electronics and IT Minister Ashwini Vaishnaw made this great announcement, highlighting the important role Apple iPhone exports had in achieving this figure. "Smartphone exports have hit a new record of Rs 2 lakh crore in financial year 2024-25. They are now one of the highest items exported from India," Vaishnaw said earlier this week. He pointed out that iPhone exports alone accounted for approximately Rs 1.5 lakh crore, or roughly 75% of the overall smartphone export value during the year. This remarkable growth has been made possible to a large extent by the government's Production-Linked Incentive (PLI...