Recently, the Commerce Ministry showed the data for the first four months of the current fiscal year from April to July. In this period, India exported smartphones worth $4.67 billion of which one-third shipment was exported to the United States. Notably, this year the number of exported smartphones to the United States has increased multi-folded a year ago for the same period. Reportedly, a year ago during the same period, the figure was $284.6 million, according to the Commerce Ministry. The data shown by the Commerce Ministry highlighted that smartphone exports increased by 99.52 percent over the first quarter of the previous fiscal year (April-July 2022-23). Continue reading this article and grab more details that we extracted from the Commerce Ministry’s data. Drag down the page.
The data shown by the Commerce Ministry showed during the first four months of the current fiscal year the export of smartphones soared up to $1.67 billion which was $284.6 million during the same period of the previous fiscal year. The increased figure has been notably multi-folded. The data on the export of smartphones during this year, came after the government of India launched PLI (Product Linked Incentives) scheme and the US-based iPhone company Apple entered the Indian market to manufacture the smartphones there. Meanwhile, India emerged as the giant production hub of smartphones. Shift to the next section and find out which countries are after the US to import smartphones from India.
The United States imported the major chunk of exported smartphones from India. As mentioned, the US imported one-third of smartphones worth $4.67 bn that India exported during the four months of the current fiscal year. After the US, the UAE (United Arab Emirates) accounted for smartphones worth $836.27 million, the third country is the Netherlands which accounted for $379.3 million, the United Kingdom imported smartphones worth $336.27 million, the next is Italy which accounted for $245.7 million, and the Czech Republic imported smartphones of worth $230.25 million.
The commerce ministry stated during the first two months of this fiscal year the smartphone exports to the US surged multiple times to $812.49 million as against $92.2 million in April-May 2022-23. The export of smartphones to the UAE for April-May 2023-24 is $484.52 million and the Netherlands accounted for $205 million. Talking about the manufacturing of electronic goods, India imported monolithic integrated circuits from Ireland, Taiwan, China, Hong Kong, and Singapore. During the fiscal year 2022-23, India imported monolithic integrated circuits worth $10.23 billion. Stay tuned.