India's electronics hardware exports jump over 30 pc to $38.5 billion in 2024-25

New Delhi, March 17 (IANS) India’s electronics hardware exports recorded a substantial growth in 2024-25, increasing by 32.47 per cent year-on-year (YoY) to reach $38.58 billion, according to the report released on Wednesday.

The report from the Electronics and Computer Software Export Promotion Council (ESC) said that the exports stood at $29.12 billion in 2023-24, reflecting a sharp increase driven largely by telecom equipment, particularly smartphones.

Smartphone exports alone rose to an estimated $24.14 billion in 2024-25 from $15.57 billion in the previous year, making it the largest component of India’s electronics hardware export basket.

Moreover, the United States remained the top destination, accounting for 44 per cent of India’s smartphone exports, followed by the United Arab Emirates (11 per cent), the Netherlands (9 per cent), the United Kingdom (6 per cent) and Italy (5 per cent).

Region-wise, North America emerged as the largest destination with exports worth $14.70 billion, followed by Europe at $11.45 billion.

Veer Sagar, Chairman of ESC, said initiatives under the Bharat Tech banner are helping Indian companies expand into emerging markets such as Africa, Latin America, CIS, ASEAN and SAARC, while strengthening presence in established regions like North America and Europe.

Gurmeet Singh, Executive Director at ESC, said the momentum in hardware exports has been "remarkable", with telecom equipment, led by smartphones, acting as the key growth driver.

Meanwhile, exports to Russia and CIS countries more than tripled to $1.10 billion, while the Middle East accounted for $5.20 billion.

“Shipments to the Far East, Korea and Japan grew 48.56 per cent to $1.75 billion,” according to the report.

Among states, Tamil Nadu led with exports worth $15 billion in 2024-25, followed by Karnataka ($7.85 billion), Uttar Pradesh ($5.30 billion), Maharashtra ($3.60 billion), Gujarat ($2.80 billion) and Delhi ($1 billion).

The data from the report has indicated that India’s electronics manufacturing and export base is expanding beyond traditional clusters, with growth now spread across multiple regions.