Monday, April 15, 2024

India’s smartphone exports to US jump to US$ 3.53 bn in Apr-Dec FY24

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India’s smartphone exports to the US jumped to USD 3.53 billion in April-December this fiscal against USD 998 million in the same period last year, according to the Commerce Ministry data. 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 USD 45.1 billion from USD 49.1 billion in
FY’23. China exported USD 35.1 billion worth of smartphones to the US market in April-December, down from USD 38.26 billion last year.

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