India’s electronics exports surpass $20 billion, iPhone dominates surge

India witnessed a 22.24 per cent surge in electronics exports, surpassing the $20 billion milestone within the nine months of the financial year 2023-24 (FY24). This was spearheaded by surging smartphone shipments, especially Apple’s iPhone, according to a report by The Economic Times (ET).

Mobile phone exports, accounting for 52 per cent of total electronics exports, reached $10.5 billion between April and December 2023. Notably, iPhones emerged as the primary driver of exports, contributing 35 per cent of the total electronics exports and a staggering 70 per cent to the country’s overall mobile exports during this period. In December 2023 alone, iPhone exports exceeded $7 billion.