Make in India Initiative Propels Smartphone Production and Exports
New Delhi, April 23 — The ‘Made in India’ smartphone sector has witnessed an impressive uptick of 8 percent year-on-year in 2025, largely attributable to a remarkable 28 percent surge in exports. This information was unveiled in a recent report on Thursday.
Counterpoint Research’s ‘Make in India’ Tracker indicates that exports now constitute roughly one-third of all smartphones manufactured within the nation’s borders.
Foxconn Hon Hai has emerged as a significant beneficiary in this landscape, boasting a substantial 48 percent year-on-year growth in exports, fueled predominantly by robust shipments from Apple.
Additionally, Tata Electronics, another key player in the assembly of Apple devices, has played a crucial role in this export boom. Samsung also reported enhanced in-house production, contributing to a 4 percent increase in its own export figures.
Research Director Tarun Pathak emphasized, “Exports are becoming increasingly central not only for India-based smartphone EMS players but also for the broader export paradigm of the country.
Electronics has ascended to become the third largest export category in FY25, invigorated primarily by smartphones, and is on course to potentially emerge as the second largest category in FY26.”
The Indian government’s acknowledgment of this sector’s burgeoning significance is underscored by recent SEZ reforms, budgetary allocations, and further initiatives outlined in this year’s Union Budget, alongside recent relaxations in Foreign Direct Investment (FDI) regulations.
However, potential headwinds loom on the horizon. Disruptions stemming from the US-Iran conflict could adversely affect logistics, while persistent hikes in memory prices may exert long-term pressures on demand, Pathak cautioned.
Domestic EMS players are continuing their expansion, even as the inaugural phase of the Production-Linked Incentive (PLI) scheme approaches its conclusion.
Senior Research Analyst Prachir Singh noted, This growth has been spurred by exports and a sustained trend of premiumization in the domestic market.
Players outside of the top five are anticipated to gain prominence by 2026 as Original Equipment Manufacturers (OEMs) diversify their partnerships.
The escalating prices for memory components will present a considerable challenge, particularly as the smartphone market is poised to contract this year, affecting overall revenues.
The advancement of India’s component ecosystem, bolstered by government initiatives like the Electronics Component Manufacturing Scheme (ECMS), will be pivotal in amplifying domestic value addition.
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