Date: 27/05/2024

Smartphone exports soar 42 pc 

Smartphone exports are now the fourth-largest export item from India, with 42 per cent growth to $15.6 billion in FY24, up by one notch in the ranking from the preceding year, according to Commerce Department data. The spike in smartphone exports was driven by a 158 per cent increase in shipments to the US at $5.6 billion, followed by the United Arab Emirates ($2.6 billion), the Netherlands ($1.2 billion) and the UK ($1.1 billion). The value of mobile devices produced in India for both export and domestic markets in FY24 soared to Rs 4.1 trillion ($49.16 billion), up at least 17 per cent year-on-year, according to preliminary estimates by the Indian Cellular and Electronics Association (ICEA), which represents most of the mobile players in the country. Apple has led the charge in exports, as per a report.
Source; Exim News Service: New Delhi, May 26