Indian Smartphone Exports to Russia Surge to Record $36 Million in February 2024

In a significant boost to bilateral trade relations, February 2024 witnessed Indian smartphones emerging as the top export commodity to Russia, with shipments reaching an unprecedented $36 million for the month. This report, citing data from India's Ministry of Commerce and Industry, highlights a monumental 12-fold increase in smartphone exports on a year-on-year basis and a 1.6-fold increase from January 2024.

Smartphones, retail pharmaceuticals valued at $27 million, and ceramic tiles worth $13 million were the three leading products shipped from India to Russia, underscoring a diverse trade portfolio. This surge in smartphone exports is particularly noteworthy, representing a robust growth in India's tech industry and its expanding international market reach.

In related global tech industry news, American tech giant Apple has recently slipped to second place behind Samsung in the rankings of the world’s largest smartphone producers. During the first quarter of 2024, the Korean brand increased its market share to 20.8%, while Apple's share declined to 17.3% of global smartphone shipments. This shift reflects the competitive dynamics in the global smartphone market, where companies are vying for leadership through innovation and strategic market expansion.