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The growing outbound shipments led to a rise within the smarphones’ market share to 7.76% throughout April-December this fiscal from 2% in the identical interval of final 12 months, the info confirmed.
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Growing exports have made India the third-biggest smartphone exporter to the US.
An official mentioned that a rise in general smartphone manufacturing has helped in pushing exports. Through the nine-month interval of this fiscal, the share of China and Vietnam declined.
The US smartphone imports from the highest 5 suppliers additionally declined throughout April-December to $45.1 billion from $49.1 billion in FY’23.
China exported $35.1 billion price of smartphones to the US market in April-December, down from $38.26 billion final 12 months.
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Vietnam’s shipments of telephones declined to $5.47 billion in April-December 2023 from $9.36 billion in the identical interval of the earlier 12 months. Different two main smartphone exporters to the US are South Korea and Hong Kong. South Korea’s exports to America in the course of the interval beneath assessment elevated to $858 million from $432 million, whereas Hong Kong’s gross sales are right down to $112 million from $132 million in April-December 2022-23.
Smartphones began registering their presence within the Indian export basket in 2022-23 when shipments touched $10.95 billion. With the continued momentum, exports have touched $10.5 billion in April-December 2023-24.
After the announcement of the Product Linked Incentives (PLI) scheme and the entry of US-based iPhone maker Apple into home manufacturing, India is rising as a significant manufacturing hub for smartphones.
