New Delhi, Sep 15 || India's smartphone exports have crossed Rs 1 lakh crore in value in the first five months of FY26, setting a new record, according to industry estimates.
Even amid tariff and trade disputes with the US, India’s smartphone export figure represented a 55 per cent increase -- from Rs 64,500 crore during the same period last fiscal (FY25).
Tech giant Apple's contract manufacturers, Tata Electronics and Foxconn, made up nearly 75 per cent of outbound shipments, contributing over Rs 75,000 crore worth of exports, as per industry sources.
The production-linked incentive (PLI) scheme incentivised the US tech giant to move its manufacturing capabilities into India. Apple has increased production in Tamil Nadu and Karnataka, leveraging the PLI scheme while remaining insulated from potential tariff escalations.