India’s smartphone exports to the US surged to $3.53 billion in the April-December period of the current fiscal year, a significant increase from $998 million during the same period last year, as per data from the commerce ministry.
This boost in outbound shipments has propelled India’s smartphone market share to 7.76 per cent in April-December this fiscal, up from 2 per cent in the corresponding period of the previous year.
India has now become the third-largest exporter of smartphones to the US, a notable achievement driven by an uptick in overall smartphone production, according to an official statement. During this nine-month period, the share of exports from China and Vietnam declined.
Notably, the US smartphone imports from the top five suppliers decreased from $49.1 billion in the previous fiscal year to $45.1 billion in April-December. China remains the largest exporter to the US, though its exports decreased from $38.26 billion to $35.1 billion during the period under review. Vietnam’s shipments also declined from $9.36 billion to $5.47 billion.
Other major smartphone exporters to the US include South Korea and Hong Kong. South Korea witnessed an increase in exports to $858 million from $432 million, while Hong Kong’s sales decreased from $132 million to $112 million in April-December.
The inclusion of smartphones in India’s export basket began in 2022-23 when shipments reached $10.95 billion. With sustained momentum, exports have further increased to $10.5 billion in April-December 2023-24.
India’s emergence as a significant production hub for smartphones is attributed to initiatives such as the Product Linked Incentives (PLI) scheme and the entry of US-based iPhone maker Apple into domestic manufacturing. These developments have reinforced India’s position in the global smartphone market and fueled its export growth.
