Smartphones, led by global technology major Apple Inc's iPhones, have quietly surged to become India's largest product export — based on HS (harmonised system) code classification — to the US by value over the past three quarters, overtaking non-industrial diamonds.
In the June quarter of 2024-25, smartphone exports hit $2 billion, well ahead of non-industrial diamond (cut or otherwise but not mounted) exports, which stood at $1.44 billion, according to the latest data from the Department of Commerce.
This shift first occurred in the December quarter of FY24 when smartphone exports to the US reached $1.42 billion, surpassing diamond exports at $1.3 billion. By the final quarter of FY24, the gap widened as smartphone exports in value terms soared by 43 per cent quarter-on-quarter to $2.02 billion, while diamond exports dropped 4.6 per cent to $1.24 billion.
Esta historia es de la edición September 30, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición September 30, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
As Mumbai Marathon Turns 20, Brands Dash to Finish Line
By the time the sun had cast its vibrant glow across the Maximum City, Mumbaikars were up and running.
AI strategy in action, critical to our success'
DEBASHIS CHATTERJEE, chief executive officer and managing director of LTIMindtree, said that the company's artificial intelligence (AI) strategy -- AI in Everything, Everything for AI, and AI for Everyone -- is delivering results for both the firm and its clients. In a video interview with Shivani Shinde following the company's 2024-25 (FY25) third-quarter (Q3) results, he shared insights on the outlook for 2025-26 (FY26), the role of AI in efficiency-driven deals, and the state of discretionary spending. Edited excerpts:
Tesla Rival VinFast readies India drive for export hub
EV major plans first stop in Tamil Nadu
India not too perturbed by Trump's disruptive agenda
Today, Donald Trump, well known for his discomfort with global rules that constrain unilateral actions by individual countries, will be sworn in as the 47th President of the United States of America, a country that has played a leading role in developing internationally accepted rules in various spheres, especially since the end of the Second World War.
Commercial realty: Growing demand but limited supply
Buoyed by a rise in demand and absorption, India's commercial real estate landscape for the top nine cities, including four metros, showed dynamism in 2024 amid resilient economic growth.
Walking with allies: Bihar's Budget demands loom large
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. ARCHIS MOHAN explains how the NDA government is delivering on promises
Guns in Gaza fall silent as truce begins, finally
Three hostages arrive in Israel as fragile ceasefire takes hold after 3-hour delay during which Israeli warplanes and artillery pounded Gaza, killing 26
Scaling large & midcap peak, leaving rivals at base camp
UTI Large & Mid Cap Fund, launched in May 2009, has consistently ranked in the top 30 percentile within the large and midcap fund category of the CRISIL Mutual Fund Ranking (CMFR) for four consecutive quarters up to September 2024.
Current environment conducive for pvt investments: CII survey
Nearly three-fourths of firms taking part in an industry survey have said that the current economic environment is conducive to private investment.
Fireworks before big bang Monday
United States President-elect Donald Trump has returned to Washington DC for his second presidential inauguration on Monday. He will be sworn in as the 47th president of the US, alongside JD Vance, who will take oath as vice-president.
