According to Commerce Ministry data, India's smartphone exports to the United States increased to $3.53 billion between April and December of this fiscal year, up from $998 million in the same period last year.
Furthermore, as per the report, increasing export shipments increased smartphones' market share to 7.76% from April to December this fiscal year, up from 2% the previous year.
With increased exports, India has become the third-largest smartphone exporter to the United States. According to an official, increased overall smartphone production has helped to boost exports. China and Vietnam's share decreased over the course of this fiscal year's first nine months.
US smartphone imports from the top five suppliers fell to $45.1 billion in April-December from $49.1 billion in FY23. China exported $35.1 billion in cellphones to the US market between April and December, a decrease from $38.26 billion the previous year.
Vietnam's phone shipments fell to $5.47 billion in April-December 2023, from $9.36 billion the previous year. The other two largest smartphone exporters to the United States are South Korea and Hong Kong.
During the study period, South Korea's exports to America climbed to $858 million from $432 million, while Hong Kong's sales fell to $112 million from $132 million in April-December 2022-23.
Smartphones made their debut in the Indian export basket in 2022-23, with shipments totaling $10.95 billion. With steady pace, exports reached $10.5 billion in April-December 2023-24. Following the launch of the Product Linked Incentives (PLI) program and the entry of US-based iPhone maker Apple into local manufacturing, India is developing as a significant smartphone production hub.
