In a dazzling display of economic prowess, India’s smartphone exports soared to $30 billion in 2025, marking the pinnacle of the PLI scheme’s impact. What began as a bold policy experiment has evolved into a cornerstone of national growth, reshaping global supply dynamics.
The scheme’s genius lies in its performance-based rewards: companies earn up to 6% incentives on incremental sales, incentivizing scale and efficiency. This has lured investments exceeding $15 billion, with over 20 companies qualifying under various PLI tracks. Apple’s decision to make India its primary export base for iPhones destined for the West exemplifies the shift.
Export growth tells a compelling tale—from $10 billion in 2023 to this year’s record, fueled by a 50% YoY increase in volumes. Europe now claims 30% of shipments, while the US surges ahead on premium models. Technological upgrades, like 5G integration and AI features, have boosted unit values, making Indian exports premium offerings.
The human element shines through: millions of jobs in assembly, testing, and R&D, empowering youth in states like Uttar Pradesh and Karnataka. PLI has also nurtured startups in semiconductors, reducing reliance on foreign tech.
Challenges like power reliability and skill gaps loom, but with budget allocations rising, solutions are in motion. This $30 billion feat is more than numbers—it’s proof of India’s manufacturing renaissance, promising sustained leadership in a $1 trillion global market.