China+1 strategy a success for smartphones? India fast bridging gap with China, Vietnam on phone exports

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Times of India 2d ago

China+1 strategy a success for smartphones? India fast bridging gap with China, Vietnam on phone exports - Times of India

Quick Summary:

India's mobile phone exports have seen a remarkable surge in FY24, with significant contributions from key players like Apple.

The government has been working to attract companies that are implementing the China+1 strategy to diversify their supply chains.

According to global trade data cited by officials, while China and Vietnam experienced declines of 2.78% and 17.6% respectively in FY24 compared to the previous year, India's exports surged by an impressive 40.5%.