Overview
- Electronics exports rose 42% to $22.2 billion in H1 FY26, with Apple iPhones contributing roughly $10 billion.
- Petroleum product exports fell 16.4% to $30.6 billion in H1 FY26 and have declined from $97.4 billion in FY23 to $63.3 billion in FY25.
- Smartphone exports set a monthly record of $1.8 billion in September, taking H1 FY26 smartphone shipments up 60% to about $13.5 billion.
- Electronics climbed from seventh in FY22 to third by FY25 in export rankings, while engineering goods led H1 FY26 at $59.3 billion.
- Industry experts project electronics could overtake petroleum within roughly two years if U.S. sanctions reduce India’s access to discounted Russian crude.