Millennium Post (Kolkata)

India’s smartphone exports to US jump to $3.53 bn in Apr-Dec FY24


India’s smartphone exports to the US jumped to $3.53 billion in April-December this fiscal against $998 million in the same period last year, according to the Commerce Ministry data.

The increasing outbound shipments led to an increase in the smarphones’ market share to 7.76 per cent during AprilDecem­ber this fiscal from 2 per cent in the same period of last year, the data showed.

Increasing exports have made India the third-biggest smartphone exporter to the US.

An official said that an increase in overall smartphone production has helped in pushing exports.

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 $45.1 billion from $49.1 billion in FY’23.

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

Vietnam’s shipments of phones declined to $5.47 billion in April-December 2023 from $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 $858 million from $432 million, while Hong Kong’s sales are down to $112 million from $132 million in April-December 2022-23.

Smartphone­s started registerin­g their presence in the Indian export basket in 202223 when shipments touched $10.95 billion. With the continued momentum, exports have touched $10.5 billion in AprilDecem­ber 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.

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