India’s smartphone exports to the US soar to $3.53 billion in April-December, marking a significant surge from $998 million in the corresponding period last year, as per Commerce Ministry data.
India has secured its position as the third-largest exporter of smartphones to the US, riding on a wave of increasing outbound shipments. The Commerce Ministry data reveals that the surge in exports has propelled India’s smartphones market share to 7.76 percent during April-December this fiscal, a notable climb from 2 percent in the same period last year.
Officials attribute this growth to the overall expansion of smartphone production in the country, which has bolstered its capacity to meet international demand. Notably, India’s rising prominence in the global smartphone market coincides with a decline in the market share of traditional suppliers such as China and Vietnam.
During the nine-month period of this fiscal, China’s smartphone exports to the US dwindled to $35.1 billion from $38.26 billion, while Vietnam witnessed a decline from $9.36 billion to $5.47 billion. Conversely, South Korea experienced a surge in exports to the US, reaching $858 million from $432 million.
This positive trajectory aligns with India’s strategic push towards becoming a manufacturing hub for smartphones. The introduction of initiatives like the Product Linked Incentives (PLI) scheme and the involvement of major players like Apple in domestic manufacturing underscore India’s growing significance in the global smartphone supply chain.
With exports already touching $10.5 billion in April-December 2023-24, the trajectory suggests a promising future for India’s smartphone export industry.
