India Smartphone Export FY24: The reason behind the increase in smartphone exports in India is said to be the rapid increase in mobile production. In the last 10 years it has increased more than 20 times.
India Smartphone Export: There is a good news for India regarding exports. In fact, India’s mobile exports to America have increased to US $ 3.53 billion during April-December in the current financial year. In the same period of the last financial year 2022-23, it was US $ 998 million. This information has come out from the data of Commerce Ministry.
According to the Commerce Ministry, India’s share in smartphone exports has increased by 7.76 percent in the months of April-December in the current financial year, which was 2 percent during the last financial year. A PTI agency official said that India has become America’s third largest smartphone exporter. China is at first place and Vietnam is at second place.
The share of China and Vietnam decreased
According to a PTI agency official, the share of China and Vietnam in smartphone exports to America has declined during the first nine months of the current financial year. US smartphone exports from the top 5 suppliers declined to $45.1 billion in April-December 2023, from $49.1 billion in April-December 2022.
China exported smartphones worth $35.1 billion to America during this period, which was $38.26 billion in the same period last year. Similarly, Vietnam’s exports to America declined to $5.47 billion.
Mobile exports increased in South Korea
During the same period, South Korea’s mobile exports to the US increased from $432 million to $858 million. Apart from this, Hong Kong’s sales declined from $132 million to $112 million in April-December 2022-23.
This huge increase in smartphone exports in India has happened due to the rapid increase in mobile production. According to India Cellular and Electronics Association (ICEA), mobile phone production has increased from Rs 18,900 crore in 2014-15 to an estimated Rs 4.10 lakh crore in FY24, which is more than a 20-fold increase.