India's smartphone exports to the United States jumped by 254% between April and December of 2023, with a total value of $3.53 billion
An official said that India is emerging as a major production centre for smartphones. The increase in smartphone manufacturing has led to an increase in exports. Apart from this, the announcement of the Production Linked Incentive (PLI) scheme and American company Apple starting iPhone manufacturing in India has also helped in increasing exports.
Smartphone exports from India to America increased by 253.70% to $3.53 billion in the first nine months of the current financial year i.e. April-December period. With this, India has become the third largest smartphone exporter to America after China and Vietnam. However, exports from China and Vietnam have declined during this period. India had sold smartphones worth only $998 million to America in the same period of 2022-23.
According to Commerce Ministry data, India's share in smartphone exports increased to 7.76% during the April-December period of 2023-24. It was 2% in the same period of 2022-23. According to the data, during this period, China's smartphone exports to America declined from $38.26 billion to $35.1 billion. Exports from Vietnam also fell from $9.36 billion to $5.47 billion.
An official said that India is emerging as a major production centre for smartphones. The increase in smartphone manufacturing has led to an increase in exports. Apart from this, the announcement of the Production Linked Incentive (PLI) scheme and American company Apple starting iPhone manufacturing in India has also helped in increasing exports.
Smartphone exports to the US from top-5 suppliers declined to $45.1 billion in the first nine months of the current financial year. In the same period of 2022-23, these countries exported smartphones worth $49.1 billion to America. The top 5 suppliers include India, China, Vietnam, South Korea and Hong Kong. Exports from South Korea to America declined from $858 million to $432 million. Exports from Hong Kong decreased from 132 million to 112 million dollars.
India made its presence felt in the world on the smartphone export front in 2022-23 when exports from the country increased to $10.95 billion during this period. This pace was maintained further and India sold smartphones worth $10.5 billion to the world in the April-December period of 2023-24.
