Smartphones Surpass Diamonds as India’s Largest Export to US

Anisha Mehra

North News
Chandigarh, September 30

Smartphones have become India’s top product export to the United States, overtaking non-industrial diamonds in value. Primarily driven by Apple iPhones, India’s smartphone exports reached $2 billion in the June quarter, outpacing diamond exports, which stood at $1.44 billion, according to the news outlet Money control. This shift marks a significant milestone, as smartphones surpassed diamonds for the first time in the December quarter of FY24, with $1.42 billion in exports compared to diamonds at $1.3 billion.

The trend has continued into 2024, with smartphone exports rising by 43% quarter-on-quarter to $2.02 billion by the end of FY24, while diamond exports saw a 4.6% decline, falling to $1.24 billion. This shift highlights India’s growing strength in high-tech manufacturing, with smartphone production emerging as a key player in the country’s export market, news outlet reported.