India’s smartphone exports outpace petroleum, diamonds to top export chart

India’s smartphone exports have witnessed an extraordinary leap, overtaking petroleum products and diamonds to become the country’s top export item, as per government data.Driven by rising demand and a series of policy incentives, smartphone shipments climbed 55 per cent to $24.14 billion in 2024–25, up from $15.57 billion in 2023–24 and $10.96 billion in 2022–23.The United States and Japan have emerged as major contributors to this surge. Exports to the US alone jumped nearly fivefold over the last three years from $2.16 billion in 2022–23 to $5.57 billion in 2023–24 and a staggering $10.6 billion in 2024–25.Shipments to Japan also saw a remarkable fourfold rise during the same period, increasing from $120 million to $520 million.“This rapid ascent has propelled smartphones to become one of India's top exported goods, overtaking traditional leaders like petroleum products and diamonds for the first time,” a senior official from the commerce ministry said, quoted by PTI.The official added that over the past three years, the sector has undergone a significant transformation, turning India into a key global hub for smartphone manufacturing and exports.At the heart of this success lies the Production-Linked Incentive (PLI) scheme, which has driven fresh investments, boosted domestic production, and strengthened India’s position in global supply chains.Besides the US and Japan, strong export growth was also recorded in the Netherlands (rising to $2.2 billion from $1.07 billion), Italy ($ 1.26 billion from $720 million), and the Czech Republic ($ 1.17 billion from $650 million).