India just jumped to third place globally for mobile phone exports, hitting $20.5 billion in 2024.
This huge leap is thanks to the Production Linked Incentive (PLI) scheme that kicked off in 2020, making it easier for companies to manufacture electronics here.
Experts at the Centre for Development Studies say India's focus on scaling up and adding more value—much like other top Asian economies—is really paying off.
India's phone exports have skyrocketed nearly 12,000% since 2017-18
Back in 2017-18, India exported just $0.2 billion worth of phones; now it's over $24 billion—a wild increase of nearly 12,000%.
Since 2018-19, India has been exporting more than it imports in phones. Plus, about a quarter of a phone's value is now made locally.
With stronger ties to global supply chains and more foreign investment rolling in, India looks set to keep climbing as a major electronics player.