India is third-biggest smartphone exporter to US with $3.53 bn exports in Apr-Dec – Firstpost

Based on data from the Commerce Ministry, India’s smartphone exports to the US increased to USD 3.53 billion from April to December of this fiscal year, from USD 998 million in the same period the previous year.

According to the data, the market share of smartphones increased from 2% during the same period last year to 7.76% during April-December of this fiscal year due to an increase in outbound shipments.

India is now the third-largest exporter of smartphones to the US due to growth in exports.

According to an official, exports have increased as a result of a rise in smartphone production overall.

During the nine-month period of this fiscal, the share of China and Vietnam declined.

The US smartphone imports from the top five suppliers also declined during April-December to USD 45.1 billion from USD 49.1 billion in FY’23.

China exported USD 35.1 billion worth of smartphones to the US market in April-December, down from USD 38.26 billion last year.

Vietnam’s shipments of phones declined to USD 5.47 billion in April-December 2023 from USD 9.36 billion in the same period of the previous year. Other two major smartphone exporters to the US are South Korea and Hong Kong.

South Korea’s exports to America during the period under review increased to USD 858 million from USD 432 million, while Hong Kong’s sales are down to USD 112 million from USD 132 million in April-December 2022-23.

Smartphones started registering their presence in the Indian export basket in 2022-23 when shipments touched USD 10.95 billion. With the continued momentum, exports have touched USD 10.5 billion in April-December 2023-24.

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.

With inputs from PTI