India's smartphone exports reached a record $24.14B in 2025, up 55% from last year, led by U.S. sales.

India's smartphone exports hit a record $24.14 billion in fiscal 2025, a 55% increase from the previous year, surpassing petroleum and diamonds. Exports to the US soared to $10.6 billion, while Japan saw a fourfold increase. This growth is fueled by government initiatives like the Production-Linked Incentive (PLI) scheme, which has attracted major manufacturers to set up production in India.