In the initial four months of the financial year, 2023-24 (April-July), India reported smartphone exports worth USD 4.67 billion, highlighting the United States emerging as the principal destination for India-manufactured devices, with exports skyrocketing to USD 1.67 billion during this period.
According to the commerce ministry data, It is an increase from the USD 284.6 million reported in the last year.
In terms of value, the US was followed by the UAE (USD 836.36 million), the Netherlands (USD 379.3 million), the UK (USD 336.27 million), Italy (USD 245.7 million) and the Czech Republic (USD 230.25 million).
India’s overall export of smartphones in the financial year 2022-23 was USD 10.95 billion. In April-July 2023-24, smartphone exports witnessed an increase of 99.52 per cent compared to the previous year.
After the announcement of the Product Linked Incentives (PLI) scheme and the entry of US-based iPhone maker Apple into domestic manufacturing, India is emerging as a major production hub for smartphones.
