iPhone boom powers India’s electronics exports to record highs, set to overtake petroleum
India’s electronics exports are rapidly rising up the ranks, cementing its position as the country’s third and fastest-growing overseas sales category in the first six months of FY26, according to commerce ministry data. Experts said that the electronics sector may be on track to exceed the export of petroleum products within two years due to restrictions on oil imports from Russia and may rank second after engineering products.
Electronics category ranked 7th in the FY22 export list. In the year ending March, it was the fastest growing category among the top 10 categories.
It has gotten faster since then.
Doubled in 3 Years
This has now been the fastest in the first six months of FY26 among all 30 export categories. In the race to reach the third position, the electronics sector has overtaken gems, jewelery and chemicals from the third and fourth positions respectively in FY25. Prior to this, it had surpassed pharmaceuticals, pharmaceuticals and ready-made garments as it rose from 7th to 3rd position in FY22.
According to six-month export data announced by the ministry of commerce, electronics exports increased by 42% to 22.2 billion dollars, from 15.6 billion dollars in the previous year; about half of that consists of Apple’s iPhones.
Petroleum products decreased by 16.4%, from $36.6 billion to $30.6 billion. Engineering increased 5.35% to $59.3 billion from $56.3 billion the previous year. Oil, currently India’s second largest export category, declined from $97.4 billion in FY23 to $63.3 billion in FY25. In the last three years, electronics exports increased by 63%, rising from $23.5 billion in FY23 to $38.5 billion in FY25. “At the current rate, electronics exports will double from FY23 to FY26,” said an analyst.
