India is rapidly closing the gap with China and Vietnam in smartphone exports, capturing nearly 50% of the decline in mobile phone exports from these two countries. While China and Vietnam saw their exports decrease by 2.78% and 17.6% respectively in fiscal year 2024, India's smartphone exports surged by over 40% to reach $15.6 billion, up from $11.1 billion the previous year[1][3][5].
This growth was driven by major players like Apple significantly expanding their manufacturing operations in India under the government's production-linked incentive (PLI) scheme[3][5]. Despite still lagging behind China, which remains the global leader, India's rapid progress in smartphone exports highlights its growing prominence in the global electronics supply chain.
Citations:
[1] https://www.business-standard.com/industry/news/india-closing-the-gap-in-smartphone-exports-as-china-vietnam-slows-down-124070100657_1.html
[2] https://indbiz.gov.in/india-rapidly-closes-in-on-china-and-vietnam-in-mobile-phone-exports/
[3] https://www.digitimes.com/news/a20240701VL204/india-smartphone-exports-apple-iphone.html
[4] https://www.thehindu.com/data/who-is-winning-the-smartphone-exports-race-vietnam-or-india-data/article67882327.ece
[5] https://economictimes.indiatimes.com/industry/cons-products/electronics/mobile-phone-exports-india-captures-50-share-of-fall-in-shipment-from-china-vietnam/articleshow/111386700.cms