“Made in India” smartphone shipments grew 6% YoY in 2024 driven by increasing exports from Apple and Samsung, according to Counterpoint’s “Make in India” Service.
The two companies alone accounted for around 94% of India’s smartphone exports. Both the brands have significantly expanded their manufacturing in India to align with the country’s objective of reducing reliance on imports and strengthening its presence in the global supply chains.
The Indian government’s PLI (Production-Linked Incentive) scheme has encouraged global manufacturers to set up or expand their production facilities in the country. All this has resulted in increasing local manufacturing, according to Counterpoint.
“Foxconn Hon Hai’s manufacturing volumes grew 19% year-over-yer in 2024 backed by Apple,” says Senior Analyst Prachir Singh. “Foxconn has plans to establish a smartphone display module assembly to enhance local manufacturing capabilities.”
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