India's smartphone exports surged nearly fivefold to the US and about fourfold to Japan in the past three years, propelling the segment to surpass petroleum products and diamonds as the country's top exported goods, according to government data.
The smartphone exports rose by 55 per cent to USD 24.14 billion in 2024-25 from USD 15.57 billion in 2023-24 and USD 10.96 billion in 2022-23.
In the last fiscal, the top five nations where India registered the highest growth in smartphone exports were the US, the Netherlands, Italy, Japan, and Czech Republic.
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Exports to the US alone rose from USD 2.16 billion in 2022-23 to USD 5.57 billion in 2023-24 and USD 10.6 billion in 2024-25.
A significant export growth has also been registered with Japan where shipments surged from USD 120 million in 2022-23 to USD 520 million in FY25.
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"This rapid ascent has propelled smartphones to become one of India's top exported goods, overtaking traditional leaders like petroleum products and diamonds for the first time," a commerce ministry official said.
Over the past three years, exports from the sector has experienced a healthy surge, transforming the country into a major global manufacturing and export hub, the official said.
This growth is underpinned by government initiatives such as the Production-Linked Incentive (PLI) scheme, which has spurred investments, scaled up local production, and integrated India more deeply into global value chains.
Exports to the Netherlands increased to USD 2.2 billion in the last fiscal from USD 1.07 billion in 2022-23. Similarly, shipments to Italy rose to USD 1.26 billion from USD 720 million. To the Czech Republic, shipments rose to USD 1.17 billion from USD 650 million, the data showed.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Karnataka Minister for Commerce & Industries M B Patil on Saturday said Taiwanese electronics manufacturing giant Foxconn's unit at the Information Technology Investment Region (ITIR) of Devanahalli here is nearly ready for launch, with commercial iPhone shipments expected to begin as early as June.
Foxconn is the iPhone's contract manufacturer.
"This isn't just a manufacturing milestone - it marks a strategic shift. With rising geopolitical and tariff pressures, India is fast becoming Apple's preferred production hub," Patil said in a post on 'X'.
He said this development strengthens Karnataka's position in global manufacturing and opens the door to greater foreign investment - without compromising stakeholder interests.
The minister further said Apple CEO Tim Cook has confirmed that for the June quarter, a majority of iPhones sold in the US will be made in India.
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"As a Kannadiga, this is a proud moment. From Mysuru to Cupertino, Karnataka is making global headlines," he added.
The company has acquired 300 acres of land in the ITIR Industrial Area, located in Doddaballapura and Devanahalli Taluk of Bengaluru Rural District.
In his 2025-26 Budget speech, Chief Minister Siddaramaiah had said that Foxconn company has started a mobile phone manufacturing plant in Devanahalli Industrial Area with a capital investment of Rs 21,911 crore.
"This company will be provided with an incentive of Rs 6,970 crore by Electronics System Design & Manufacturing (ESDM)," he had said.
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The National Rifle Association of India (NRAI) is not averse to foreign entities buying stakes in the franchise-based Shooting League of India, said its president Kalikesh Singh Deo following a meeting of the federation to take key decisions on the event.
The inaugural edition of the league is scheduled later this year.
The International Shooting Sport Federation (ISSF), the global governing body for the sport, has officially allotted a November-December window for SLI and the event is set to be organised from November 20 to December 2.
A total of 6-8 city-based franchises will own the teams and bid for players via an auction. Each team will consist of 12 athletes (6 men, 6 women), including up to four foreign players (two men, two women).
"We have started conversation with (prospective) franchises. But I don't see the reason why a foreign franchise would be interested; that they can't have a stake, given of course subject to any conditions in the law of the land," said Singh Deo following the NRAI governing council meeting on Saturday.
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Despite India boasting of nearly one lakh registered shooters and accounting for about 50 per cent of the medals the country wins internationally, shooting continues to be a sport with low spectator footfall and viewership, even in the premier arenas like the Karni Singh Ranges here.
Singh Deo acknowledged that getting mass audience continues to be a "challenge" and SLI will bring in equipment and technology to make the sport more exciting.
"Certainly, it is actually one of the biggest challenges for the league, for shooting sport as a whole. In fact, even the ISSF and NRAI have been thinking about how to make shooting more viewer-friendly.
"So, one of course is the kind of equipment and technology we use that we can make the sport more exciting. We have 95,000 registered shooters. And, of course, eSports, which has become a major thing in India, is also a major platform where shooting is, in one way or the other, attractive.
"So we plan to use a variety of platforms, social media, and also maybe bringing some innovative gaming technologies, whereby we can actually reach out to a wider audience, and make sure that we popularise the sport of shooting across the spectrum," said Singh Deo about SLI, which will be based on the mixed team format.
The six events that will be part of the curriculum are: Pistol -- 10m, 25m; Rifle -- 10m and 50m 3P and Shotgun -- trap & skeet.
He added that the NRAI would be investing heavily in the league and develop it as a "role model for shooting across the next 5 to 10 years." "So, we hope that as the league goes on, the players and the franchises will be able to benefit from it from a sports perspective, from a visibility perspective as well as financially," he said.
In it's inaugural year, SLI will be organised at just one venue and not at multiple venues or home-and-away basis because of the cost factor.
"Because you would want to keep the cost low, and we want to make sure that the first event itself is successful, we're starting off as a single venue league, but as time progresses, and demand increases, and we find that there is both financial, as well as viewership interest, and financial viability in going across to other cities, we're happy to do that (have multiple venues).
"Delhi (Karni Singh Range) is the most preferred location, both from logistics perspective, as well as from the feedback we've got from potential franchises," he added.
He clarified that SLI will be a separate entity and not be a part of the national ranking system to shortlist the teams for international competitions.
"No, this is not one of the ranking or designated ranking tournaments," he said.
Singh Deo said each team will have a specified number of international, homegrown and young shooters.
"The league will allow the best of the world to be a part of the same team as the best of our country and the best of our young rising shooting stars, that means the juniors. So, the format encompasses all of them." While not disclosing the prize fund, he added that it would make SLI attractive for the best in the business across the world.
"The whole purpose of envisioning a league like this is to ensure that we bring commercial support to the shooting fraternity. It is important that the entire ecosystem gets financial support and becomes self-sustaining, so it is with that view the league has been formed.
"The prize money will be significantly more attractive than anything else that the shooters would get in other shooting formats." He added that the competition format will not be a long-drawn thing with each match not lasting more than 20-25 minutes, which means there will be no qualification rounds as is the norm in all global competitions.
"So every match is only a 16-pointer affair, which is the usual thing in the finals in shooting with both men and women competing.
"There won't be any qualifications; it will only be the finals. That has been the recommendation (of the governing body)." He added that a majority of the money earned would be re-invested in the league itself, "which means that the players get paid better, the prize money is higher and gets bigger every time.
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By Skylar Woodhouse and Josh Wingrove
President Donald Trump said that India has offered to cut all its tariffs on US goods but downplayed any sense of urgency to reach a trade agreement with the world’s fourth-largest economy.
Trump cited India as an example of a country where he’s seeking to slash barriers to US exports during an interview with Fox News host Bret Baier that aired Friday.
“They make it almost impossible to do business. Do you know that they’re willing to cut 100% of their tariffs for the United States?” Trump said.
But the president also sent mixed signals on how close a deal could be, saying “that’ll come soon. I’m in no rush. Look, everybody wants to make a deal with us.”
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He added that he’s not planning to “make deals with everybody.”
The remarks are the latest signal from Trump that he while he plans to strike trade deals with some countries before a pause on higher import duties expires in July, that many nations will just see the US make unilateral decisions about the rates they will face.
Earlier Friday, Trump said he is planning to set new import duty rates for trading partners over the “over the next two to three weeks.”
The Trump administration is prioritizing trade talks with several nations, including India, but a lack of manpower and capacity makes it impossible to hold concurrent negotiations with all the countries caught up in the president’s so-called reciprocal tariffs plan.
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Trump said he also dangled the prospect of expanded trade with India’s rival Pakistan. He previously has said that was a factor in the US effort to broker a between the two countries earlier this month.
“I’m using trade to settle scores and make peace,” Trump said.
The US has also sought to deescalate a trade fight with China, a move Trump framed as an act of generosity to the world’s second-largest economy. After recent talks, the US slashed its rate on China to 30% from 145% and Beijing lowered its own tariff levels from 125% to 10%, with the countries looking toward further discussions.
“If I didn’t do that deal with China, I think China would have broken apart,” Trump said.
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