US biggest export destination for Indian smartphones in Apr-Jul; UAE 2nd: Govt data

The smartphone exports to the US jumped multiple times to USD 1.67 billion during the first four months of this fiscal against USD 284.6 million a year ago, the commerce ministry data showed. The US accounted for one-third of the shipments in value terms.

Prior to 2022-23, the smartphone exports were non-existent, so the data was not captured. Image Courtesy: Reuters.

India exported smartphones worth USD 4.67 billion in April-July this fiscal, following a multifold jump in shipments to the US, which emerged as the biggest destination for India-made devices, according to government data.

The smartphone exports to the US jumped multiple times to USD 1.67 billion during the first four months of this fiscal against USD 284.6 million a year ago, the commerce ministry data showed. The US accounted for one-third of the shipments in value terms.

The US was followed by the UAE (USD 836.36 million), the Netherlands (USD 379.3 million), the UK (USD 336.27 million), Italy (USD 245.7 million), and the Czech Republic (USD 230.25 million).

TRENDING NOW

Overall India's export of smartphones in 2022-23 was USD 10.95 billion. During April-July 2023-24, smartphone exports soared by 99.52 per cent over April-July 2022-23. Prior to 2022-23, the smartphone exports were non-existent, so the data was not captured.

After the announcement of the Product Linked Incentives (PLI) scheme and the entry of US-based iPhone maker Apple into domestic manufacturing, India is emerging as a major production hub for smartphones.

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.

TAGS:

smartphone export