INDIA EXPORTS ELECTRONICS BOOM, $20 BILLION FUELLED BY IPHONE

Mobile phones, led by iPhones, comprised 52% of electronics exports, with iPhones contributing 35%, and 70% to overall mobile exports, surpassing 7 billion in December 2023 alone

- 

In a remarkable development, India has witnessed an impressive 22.24 per cent surge in electronics exports, achieving a significant milestone by surpassing the $20 billion mark within the initial nine months of the financial year 2023-24 (FY24). According to a comprehensive report by The Economic Times (ET), this surge is attributed to the booming smartphone shipments, notably led by the renowned Apple iPhone.

The data, sourced from the India Cellular and Electronics Association (ICEA) and reported by ET, highlights that mobile phone exports constitute a substantial 52 per cent of the total electronics exports, reaching a notable $10.5 billion between April and December 2023. iPhones, in particular, emerged as the primary driving force behind this export surge, contributing a remarkable 35 per cent to the total electronics exports and an astonishing 70 per cent to the country’s overall mobile exports during this period. Notably, in December 2023 alone, iPhone exports exceeded an impressive $7 billion.