Updated March 17th, 2024 at 20:18 IST

Smartphone exports from India to US rise to $3.53 billion in Apr-Dec fiscal: Commerce Ministry

India is emerging as a major production hub for smartphones on the back of Production Linked Incentives and Apple entering domestic manufacturing

Reported by: Business Desk
Smartphone | Image:Pixabay
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India leads demand: Smartphone exports from India to the United States have gone up to $3.53 billion in the April-December fiscal, data from the Commerce Ministry shows.

This figure was at $998 million in the same period last year, with increasing outbound shipments causing an increase in share of smartphones to 7.76 per cent during April to December, as against 2 per cent in the same period last year, according to the data.

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The rise in exports have resulted in India becoming the third-largest smartphone exporter to the US.

An increase in overall production of smartphones has helped in pushing exports, according to an official.

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The nine-month period of this fiscal simultaneously saw the share of China and Vietnam decline, with the US smartphone imports from top five suppliers also going down during the April-December period to $45.1 billion, as against $49.1 billion in FY23. 

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 also dipped to $5.47 billion in April-December 2023 from $9.36 billion in the same period last year. 

The other two significant 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 went down to $112 million from $132 million in April-December 2022-23.

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The presence of smartphones in the Indian export basket first came by in 2022-23, after shipments touched $10.95 billion. 

As the momentum continues, exports have gone to $10.5 billion in April-December 2023-24.

The announcement of the Product Linked Incentives (PLI) scheme and with US-based iPhone maker Apple entering domestic manufacturing, India is coming up as a significant production hub for smartphones.

(With PTI Inputs)

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Published March 17th, 2024 at 20:03 IST