India to replace PLI with new smartphone export incentives
India is gearing up to launch a new set of incentives for smartphone exports, stepping in as the current PLI scheme wraps up in March 2026.
The upcoming plan will reward companies based on how much they export and use locally made parts, like camera modules; currently, major brands rely heavily on local assembly, but deeper sourcing of sub-parts is a stated goal.
This move follows a huge milestone: India hit $30 billion in smartphone exports in 2025.
Smartphone exports now surpass petroleum products
Smartphones have now become India's biggest export, even outpacing petroleum products.
The source says iPhone contract manufacturers account for roughly three-fourths of the country's smartphone exports; Tata and Foxconn operate key iPhone assembly plants in India, though a specific $-value by factory is not reported.
The industry's rapid growth has created millions of jobs and is pushing India to compete with China.
For anyone interested in tech or global business trends, this shift puts India firmly on the map as a major player.