India's smartphone manufacturing landscape is evolving, with 25% of devices now produced by local firms. Dixon Technologies has emerged as the largest manufacturer, overtaking Samsung Electronics, and is projected to lead in production volumes by 2025. The company's growth is attributed to a 19% market share and an 89% increase in output, largely driven by orders from global brands like Motorola, Realme, and Xiaomi. Meanwhile, Bhagwati Products, a joint venture between Micromax Informatics and Huaqin Technologies, has entered the top five manufacturers with a 9% share, benefiting from partnerships with Chinese brands such as Vivo and Oppo. Overall, India's smartphone manufacturing grew by 8% in 2025, with exports accounting for nearly one-third of the total output, reflecting a shift towards outsourcing production. However, domestic demand remains flat, increasing only 1%. Analysts attribute this growth to supportive government policies, including production-linked incentives, while cautioning about potential risks from geopolitical tensions and rising component prices.