India became the third biggest smartphone exporter to the USA

 

India is slowly becoming an export hub for leading smartphone giants like Apple, Samsung, Vivo, and Motorola. Smartphones companies are eyeing India as a potential market for smartphone exports. These companies are making hefty investments and setting their production in India. 

According to India import export data, India registered around $10.9 billion during the financial year 2023. The United States has emerged as the leading market for India's smartphone exports as the sales jumped to $3.5 billion in the past year. This was very high growth in the smartphone exports to the USA as compared to $995 million in 2022. 

Whereas, US import data shows the decline in its smartphone imports from China and Vietnam which was $5 billion and $9 billion respectively. While South Korea and Hong accounted for $850 million and $430 million respectively. Pegatron Technology India, Foxconn Hon Hai Technology, Nokia Solutions and Wistron Infocomm Manufacturing were the leading Indian mobile phones exporting companies to the United States.

Vietnam was the biggest mobile phone importer from India representing India's 29% market share. Whereas, the Netherlands (11%), Czech Republic (10%), United Kingdom (9%) and China (6%) were other prominent smartphone importing countries from India. Samsung India, Foxconn Hon Hai, Pegatron Technology and Nokia Solutions are some of the biggest export companies from India accounting for the highest number of shipments last year.

The latest India export data reflects $2.14 billion worth of smartphone exports from India during March 2024. There were around 27 thousand mobile export shipments made by India in March. The top 5 mobile phones importing markets for India were the United States ($729 Million), Netherlands ($210 Million), United Kingdom ($190 Million), United Arab Emirates ($188 Million) and Italy ($108 Million) respectively.

Compared to January and February 2024, India's smartphone exports continuously grew over the course of time. In January 2024, the country's smartphone exports were $1.36 billion whereas in February, it was $1.7 billion. The United States continued to be the leading  smartphone importer from India responsible for 30% market share. Whereas, the United Arab Emirates, United Kingdom and Italy.

On the other hand, the imports of smartphones by India declined significantly. According to India import data, the smartphone imports were $15 billion during fiscal year 2023. China was the biggest smartphone supplier to India covering over 75% of India's overall exports. There is a notable amount of smartphone export shipments to Malaysia, Vietnam, Mexico and Taiwan.

In 2024, the growth for India's smartphone imports remains steady. In January 2024, India's smartphone imports were $1.3 billion, in February, it reached $1.7 billion whereas in March, it was $1.3 billion. Foxconn, Wistron Infocomm, Oppo, Vivo and Apple were responsible for maximum shipments in the past fiscal year.

India’s smartphone market is continuously emerging. It could become the leading smartphone hub by the end of 2030, Experts. Moreover, India is focussing immensely on solidifying its manufacturing rather than importing. It is the best time to seize this opportunity by Global import export data provider could really help their business. 

It helps companies to plan strategically as per the emerging market trends, price updates, importer/exporters shipping activities, marketplaces and competitor records. It will assist companies make profitable business decisions and achieve business goals.