Netherlands Surges Past UAE as Second-Largest Market for Indian Smartphones
New Delhi - The Netherlands has now surpassed the United Arab Emirates (UAE) to become the second-largest market for smartphones manufactured in India, according to recent data from the Indian Commerce Ministry.
From April to August this year, smartphone exports to the Netherlands soared to $833 million, marking an impressive 92% increase from the previous year. Conversely, during the same period, exports to the UAE fell by 25%, totaling $777 million. This shift began in April and has continued through August, highlighting a significant change in export dynamics.
Historically, the UAE held the position of the second-largest market for India-made smartphones. However, in the fiscal year 2023-24, while exports to the UAE remained stable at $2.57 billion, exports to the Netherlands saw an 11% rise, reaching $1.18 billion.
The UAE stands out as the only country among the top 10 export destinations where smartphone shipments have decreased this year. Meanwhile, other markets have shown robust growth. Japan and Mexico emerged as the fastest-growing markets, with increases of 180% and 153% respectively, though their volumes are considerably smaller at $129 million and $125 million.
The United States continues to be the primary market for Indian smartphones, with 38% of the total shipments amounting to $7.5 billion in the April-August period, showing a 51% year-on-year growth to $2.8 billion. Other notable growth regions include Austria, which saw an 89% increase in exports to $421 million, and Italy, with a 60% rise amounting to $449 million.
Europe dominates the list of top export destinations, with six of the top 10 markets located on the continent. Collectively, these top 10 markets account for 87% of India's total smartphone exports during the first five months of the current financial year, during which overall smartphone exports from India grew by 34% compared to the same period last year.
This trend underscores the shifting dynamics in global trade, particularly in the technology sector, where strategic market shifts can significantly impact export figures and industry growth.