India is 3rd Biggest Smartphone Exporter to US with $3.53 B Exports in Apr-Dec

Introduction

In recent years, India has been making significant strides in the global smartphone market. The latest data from the Commerce Ministry reveals a remarkable surge in smartphone exporter from India to the United States.

From April to December of the fiscal year, India’s smartphone exports to the US skyrocketed to USD 3.53 billion, a substantial increase from USD 998 million recorded in the corresponding period of the previous year.

Market Share Expansion: India is a smartphone exporter

According to the Commerce Ministry data, the market share of Indian smartphones in the US market witnessed a remarkable surge, jumping from 2% to 7.76% during the April-December period of this fiscal year.

India has become a major hub for smartphone assembly. Companies like Samsung, Xiaomi, Apple, and many others have set up manufacturing plants in India. This means a large portion of the phones exported to the US are likely assembled in India.

Securing a Top Spot: India Becomes Third-Largest Exporter to the US

The surge in India’s smartphone exports has catapulted the nation to the position of the third-largest exporter of smartphones to the US, marking a significant milestone in its journey towards becoming a manufacturing powerhouse.

This achievement underscores India’s growing prowess in smartphone manufacturing and its increasing importance as a key player in the global supply chain.

Decline in Competitor Shipments: China and Vietnam Witness Decreases

India’s smartphone export surge coincides with a decrease in shipments from other major exporters like China and Vietnam.

China saw its exports to the US fall from USD 38.26 billion to USD 35.1 billion between April and December.

Likewise, Vietnam experienced a drop in smartphone shipments to the US. This declined from USD 9.36 billion to USD 5.47 billion during the same period.

Policy Initiatives Driving Growth: The Role of PLI Scheme and Apple’s Entry

Initiatives like the Product Linked Incentives (PLI) scheme play a crucial role in India’s smartphone export growth by promoting domestic manufacturing and exports. They contribute significantly to India’s emergence as a major player in the global smartphone market. Furthermore, Apple’s entry into domestic manufacturing further strengthens India’s status as a significant production hub for smartphones.

Changing Dynamics in the Global Market: Decline in US Imports

Moreover, data shows a notable decrease in US smartphone imports from the top five suppliers, falling from USD 49.1 billion to USD 45.1 billion from April to December. This decline highlights changes in the global smartphone market, with India becoming a promising option for manufacturers seeking to broaden their supply chains.

Future Outlook: India’s Promising Trajectory

Looking ahead, India’s trajectory in the global smartphone market appears promising. With continued momentum and government support, India is well-positioned to further solidify its position as a key player in smartphone manufacturing and exports.

Conclusion: India’s Rising Influence in the Global Smartphone Market

India’s impressive rise in smartphone exports to the US highlights its growing influence in the global smartphone market. Backed by supportive government policies, strategic initiatives, and rising investments, India is set to become a major player in smartphone exports, solidifying its position in the global supply chain.