Economic survey: 31% of India’s smartphone production exported in FY24

NEW DELHI: India exported 31% of the total smartphones manufactured in the country to various countries in FY24, Economic Survey 2024 said. The survey highlighted that India’s domestic smartphone production and exports have increased steadily since the launch of the Production Linked Incentive (PLI) scheme in 2020.

In FY20, domestic production exceeded domestic demand for the first time, and smartphones became one of India’s top export categories. Exports now provide the primary stimulus for the growth of the sector.