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India's Smartphone Exports To US Jump To $3.53 Billion In Apr-Dec FY24

The increasing outbound shipments led to an increase in the smarphones' market share to 7.76 per cent during April-December this fiscal from 2 per cent in the same period of last year.

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.

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The increasing outbound shipments led to an increase in the smarphones' market share to 7.76 per cent during April-December 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.

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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 2022-23 when shipments touched $10.95 billion. With the continued momentum, exports have touched $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.

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