India’s smartphone exports soar to US$15.6 billion in FY24, making them the fourth-largest export item. Major markets include the US, UAE, and UK.
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In a remarkable achievement, smartphones have become India’s fourth-largest export item, growing 42% to reach US$15.6 billion in the fiscal year 2024 (FY24).
This surge has propelled smartphones up one rank among India’s top exported commodities compared to the previous year.
The Indian government began tracking smartphone exports as a separate category in April 2022.
Traditionally, India’s export landscape has been dominated by petroleum products, but smartphones have now become prominent players.
Major Export Destinations and Growth
According to government data, the significant increase in smartphone exports was primarily driven by a 158% rise in shipments to the United States, totalling US$ 5.6 billion.
Other key markets for Indian smartphone exports include:
- United Arab Emirates (UAE): US$ 2.6 billion
- Netherlands: US$ 1.2 billion
- United Kingdom (UK): US$ 1.1 billion
Production Value and Industry Growth
In addition to the boost in exports, the total value of mobile devices produced in India for both export and domestic markets reached US$49.16 billion (Rs. 4.1 trillion) in FY24.
This marks an increase of at least 17% compared to the previous year, according to preliminary estimates by the Indian Cellular and Electronics Association (ICEA), which represents most of the country’s mobile companies.
Key Insights
- Smartphones have emerged as a significant export item from India, ranking fourth in the export hierarchy.
- The United States experienced a substantial increase in smartphone shipments from India, with a 158% rise.
- Other major export destinations include the UAE, Netherlands, and UK.
- The overall production value of mobile devices in India has grown by at least 17% in FY24.
The smartphone exports and production surge underscores India’s growing influence in the global electronics market.
This development signifies a robust manufacturing sector and highlights India’s competitive edge in the international marketplace.
Conclusion
India’s dynamic growth in smartphone exports reflects its increasing capability to meet global demand with high-quality products.
As the country continues strengthening its manufacturing and export sectors, it sets a promising trajectory for future economic growth and international trade.
Stay tuned for more updates on India’s economic developments and export trends.
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