The data from the World Health Organization (WTO) reveals that Smartphones have emerged as India’s second-largest export category. The data has been taken out with the harmonized system codes used for international trade classification used by WTO, as smartphones secured second position among HS code-based export categories. Notably, automotive diesel fuel exports stand in the first spot.
In the April-November period of FY25, the export of smartphones reached 13.1 billion dollars as per the Commerce Ministry. The export of smartphones has registered a significant rise of 46 percent to over 8.9 billion dollars during the same period of the last financial year.
Notably, the exports of smartphones stood at the fourth number during the April-November period of FY24.
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Apple Inc, because of iPhones, accounted for two-thirds of India’s smartphone exports. Notably, the surge in exports of smartphones is partially attributed to the production-linked incentive (PLI) scheme.
The gap between India’s top export product Automotive diesel fuel has narrowed from 10 billion dollars in Financial Year 24 to 400 million dollars in FY25. The period under review for both the Financial Years of 2024-25.
Smartphone exports rose to 2.9 billion dollars in the Financial Year 2020, placing the sector at 14th in the export ranking. Over the next two years, exports continued to gain momentum, reaching 3 billion dollars in FY21 and 5.7 billion dollars in Financial Year 2022.
Although export rankings for April-December FY25 are yet to be released, smartphones have already achieved 15.35 billion dollars in exports, almost equalling the total figure for all of FY24.
Notably, the story is from Business Standards
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