Mumbai: In a striking shift in trade dynamics, smartphones have emerged as India's top exported commodity, surpassing even the traditionally dominant petroleum products. According to recent government data for the fiscal year 2024-25, smartphone exports hit an all-time high of $24.14 billion, marking a dramatic climb from $15.57 billion in 2023-24 and $10.96 billion in 2022-23.

Global tech giants Apple and Samsung have been the primary drivers of this export boom, jointly accounting for a staggering 94% of all smartphone exports, as reported by Counterpoint Research. Apple alone shipped 3 million iPhones between January and March 2025 — a majority being the latest iPhone 16 models.

Exports to major markets have seen explosive growth. Shipments to the United States alone surged nearly fivefold in just two years — from $2.16 billion in 2022-23 to $10.60 billion in 2024-25. Exports to Japan also saw a more than fourfold rise, from $120 million to $520 million in the same period.

Analysts and government officials attribute this sharp rise to the Production-Linked Incentive (PLI) scheme introduced by the central government, aimed at bolstering domestic manufacturing and turning India into a global smartphone export hub.

The latest data underscores not just a changing trade narrative, but also India's growing clout in the global electronics supply chain — a sign that the country is fast becoming a key player in high-tech manufacturing.