New Delhi, Feb 18: India's mobile phone manufacturing sector has achieved an extraordinary milestone, with exports hitting a record Rs 1.5 lakh crore in January 2025, according to the India Cellular and Electronics Association (ICEA).
This achievement marks a significant leap from the previous export record of Rs 22,868 crore set in the 2020-21 financial year, highlighting the transformative effect of the government's Production Linked Incentive (PLI) scheme.
The ICEA reported a substantial increase in mobile phone production, which doubled from Rs 2,20,000 crore in FY23-24 to Rs 4,22,000 crore. Looking ahead, the association projects that production will reach an estimated Rs 5,10,000 crore in FY24-25, reinforcing India's position as a global manufacturing hub.
As India rapidly strengthens its role in mobile phone manufacturing, the ICEA forecasts that exports could surpass Rs 1,80,000 crore in FY24-25, reflecting a 40% growth compared to the previous fiscal year and a staggering 680% increase since the introduction of the PLI scheme in FY20-21.
Mobile phone exports are now the leading growth driver in India's electronics sector, with the U.S. emerging as a key market for Indian smartphones. Pankaj Mohindroo, Chairman of the ICEA, underscored the importance of building on this momentum: "We have reached a substantial scale, driven by strong government support and our industry's robust capability."
