Smartphones become India's biggest export product to the US overtaking diamonds: Report

Smartphones have become one of the biggest export product from India to the US in the past three quarters of the financial year 2024 - 2025. A new report suggest that smartphone exports, primarily driven by increase in Apple 's iPhone exports, have surpassed non-industrial diamonds in becoming the largest export product to the US.

The report, citing data from suggests that the Department of Commerce, said that that smartphone exports touched the $2 billion mark in the June quarter of the financial year 2024-2025, while the export of the non-industrial diamonds touched the $1.44 billion mark during the same time period.

That said, this change in trend is fairly new. The change began in the December 2023 or the third quarter of the financial year 2023-2024 when the smartphone exports from India to the US touched the $1.42 billion mark. On the other hand, the export figures for the non-industrial diamond from India to the US touched the $1.3 billion mark during the same time. During the fourth or the final quarter of the financial year 2024-2025, the smartphone export figures from India touched the $2.02 billion, while the export figures for the non-industrial diamonds decreased to $1.24 billion.

As mentioned before, this change in export trend can be primarily attributed to Apple 's iPhones. According to a separate report, Apple exported iPhones worth over $5 billion from India in the financial year 2023. This made a significant part of the total smartphone exports from India, which stood at $11.1 billion during the same time frame. Then in financial year 2024, Apple exported iPhones worth $10 billion, while the total smartphone exports stood at $15.6 billion during the same time period.

More specificially, the increase in smartphone exports have also impacted India's overall exports to the US. Apple reportedly exported iPhones worth around $5.56 billion to the US in the financial year 2023-2024, which made up for the second largest export from India to the US after the non-industrial diamonds. These figures have changed slightly in the past couple of months with the smartphones overtaking the non-industrial diamonds in India's exports to the US.