New Delhi, March 25
In a big boost for local manufacturing, the country is set to witness its electronics exports surpass Rs 3 lakh crore for the first time this fiscal (FY25), driven by smartphones.
As per latest industry data, electronics exports reached Rs 2.87 lakh crore in the 11 months in FY25 (April-February), an impressive growth of 35 per cent from Rs 2.11 lakh crore in the same period last fiscal (FY24).
At Rs 1.75 lakh crore, smartphones continue to be the top contributor to electronics exports growth in the April-February period, according to industry data. It constitutes a 54 per cent jump over the corresponding figure for the same period of FY2023-24.
Apple’s iPhone exports reached Rs 1.25 lakh crore in the first 11 months of FY25, contributing 43 per cent of the total electronics exports and 70 per cent of the total smartphone exports.
The government expected smartphone exports to reach $20 billion (Rs 1.68 lakh crore,) during 2024-25, but the estimate has already been exceeded in 11 months of the current financial year, as per data from the India Cellular and Electronics Association (ICEA).