Smartphones, primarily driven by Apple Inc’s iPhones, have emerged as India’s largest product export to the United States, surpassing non-industrial diamonds in value over the past three quarters.
Smartphone exports reached $2 billion in the June quarter, compared to $1.44 billion for non-industrial diamonds, the report, citing the latest data from the department of commerce.
The trend began in the December quarter of FY24 when smartphone exports to the US hit $1.42 billion, overtaking diamond exports at $1.3 billion.
By the final quarter of FY24, smartphone exports surged by 43% quarter-on-quarter to $2.02 billion, while diamond exports declined 4.6% to $1.24 billion, the report said
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