India's smartphone exports to the United States surged to USD 3.53 billion during April-December of this fiscal year, marking a substantial rise from USD 998 million recorded in the corresponding period last year, as per the data released by the Commerce Ministry.
This upward trend in outbound shipments has significantly bolstered the market share of Indian smartphones, reaching 7.76 percent during April-December of the current fiscal year, compared to a mere 2 percent in the same period the previous year, according to the data. Consequently, India has now secured its position as the third-largest smartphone exporter to the US market. An official attributed this surge in exports to the overall increase in smartphone production within the country. Meanwhile, China and Vietnam experienced a decline in their respective shares during the nine-month period.
Furthermore, the United States' imports of smartphones from its top five suppliers have also witnessed a decrease, dropping to USD 45.1 billion in April-December from USD 49.1 billion in the fiscal year 2022-23. China, the leading exporter, saw a decrease in its exports to USD 35.1 billion during April-December, down from USD 38.26 billion last year. Similarly, Vietnam's shipments plummeted to USD 5.47 billion from USD 9.36 billion in the same period of the previous fiscal year. South Korea and Hong Kong also played significant roles as smartphone exporters to the US.
South Korea's exports surged to USD 858 million during the period under review, compared to USD 432 million, while Hong Kong's sales experienced a slight dip, falling to USD 112 million from USD 132 million in April-December 2022-23. The presence of smartphones in India's export portfolio began in 2022-23 when shipments reached USD 10.95 billion.
With the sustained momentum, smartphone exports soared to USD 10.5 billion in April-December 2023-24. The implementation of the Product Linked Incentives (PLI) scheme and the establishment of domestic manufacturing units by US-based iPhone maker Apple have positioned India as a prominent production hub for smartphones.
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