News Desk
NEW DELHI—India’s mobile phone exports have jumped 50% in the first 10 months of the fiscal year, hitting an estimated ₹1.5 lakh crore ($18 billion) from April 2023 to January 2024, up from ₹1 lakh crore ($12 billion) a year earlier. The catalyst: a government program offering cash incentives that’s turbocharging production, with Apple Inc.’s expanding iPhone operations leading the pack.
The Production-Linked Incentive (PLI) scheme, a cornerstone of Prime Minister Narendra Modi’s manufacturing agenda, has delivered big wins.
In fiscal 2024, it powered $50 billion in mobile electronics output and created more than 1.2 million jobs, turning India into a viable alternative to China for global tech giants. The program ties payouts to production targets, and companies like Apple have seized the opportunity.
Apple’s iPhone output in India topped $10 billion between April and October 2024, with exports accounting for nearly $7 billion; a 37% rise from the same period last year. October alone saw production exceed $2 billion, a monthly record for the company in India. The shift reflects Apple’s broader strategy to diversify its supply chain amid U.S.-China tensions.
A major driver of Apple’s success is Tata Electronics, a homegrown supplier that’s scaled up fast. In 2024, Tata churned out iPhones worth over ₹40,000 crore ($4.8 billion), a 180% year-over-year leap. Its Karnataka factory, snapped up in 2023, now handles 26% of India’s iPhone production, shipping out ₹31,000 crore ($3.7 billion) in exports.
Samsung Electronics Co., another big name, added ₹34,500 crore ($4.1 billion) to the export tally during the same period, capitalizing on India’s manufacturing momentum.
The India Cellular and Electronics Association projects exports could climb to ₹1.8 lakh crore ($21.6 billion) by March, a 40% increase from last year’s ₹1.3 lakh crore ($15.6 billion). Chairman Pankaj Mohindroo pegs growth since the PLI’s 2021 debut at 680%, with the U.S. emerging as a key buyer.
Apple isn’t stopping here. It plans to make 25% of its iPhones in India by 2027, up from 15% now, betting big on the country’s workforce and infrastructure. That ambition aligns with India’s push to become a global manufacturing hub, a goal buoyed by the PLI’s early success.
For India, the stakes are high—and the payoff is already evident. Jobs are up, export dollars are flowing, and the country’s tech profile is rising. With government backing and corporate muscle, India’s phone-making boom could reshape the global electronics map.
