North News
New Delhi, November 18
India achieved a new milestone in smartphone exports, with shipments surpassing $2 billion in October, marking the highest monthly total on record, Union Minister of Commerce and Industry Piyush Goyal said on Monday. Sharing details in his post on X previously known as Twitter, Goyal hailed the achievement as a testament to India’s high-quality and reliable manufacturing capabilities.
According to the Indian Cellular and Electronics Association (ICEA), October’s performance was driven by strong demand for Apple’s iPhones, reflecting a 23% rise from May 2024’s previous high of $1.78 billion and a 70% increase from October 2023’s $1.2 billion.
In the first seven months of FY24, smartphone exports reached $10.6 billion, a 37% jump from the $7.8 billion recorded during the same period last year. ICEA projects total exports could touch $18–20 billion by FY25, with Apple and its suppliers contributing significantly. The association estimates that 35% of India’s smartphone production by value will be exported during this period, the news outlet Business Standard, reported.
