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Smartphone has become India's top export category with overseas shipments worth USD 30 billion in 2025, Union Electronics and IT Minister Ashwini Vaishnaw said on Wednesday. The minister shared the development in a social media post. "Becoming the smartphone manufacturing factory for the world," Vaishnaw said. The photo post titled Smartphones India's No. 1 export category displayed that there were exports worth USD 30 billion in January-December 2025. Mobile phones worth Rs 5.5 lakh crore (USD 60 billion) were produced in the country, and exports from the segment were worth around Rs 2 lakh crore (about USD 22 billion) in 2024-25. Electronics exports from the country have crossed Rs 4 lakh crore (USD 44 billion) in 2025 and are expected to grow when four semiconductor plants begin production this year. Neil Shah, Co-Founder and VP for Research at market research and analysis firm Counterpoint, said Apple has become a poster child for India by expanding its manufacturing post-US
China on Tuesday put 20 Japanese companies on an export control list and 20 others on a watchlist, as tensions continue over the Japanese leader's previous comments on Taiwan, the self-governed island Beijing claims as its own. Chinese exporters will be banned from selling dual-use goods, which can be used both for civilian and military purposes, to 20 Japanese companies, according to a statement by China's Commerce Ministry. Companies targeted include multiple subsidiaries of Mitsubishi Heavy Industries involved in shipbuilding and the production of aircraft engines and maritime machinery, as well as divisions of Kawasaki Heavy Industries and Fujitsu, among others. Foreign organizations or individuals are also banned from providing dual-use items originating in China to the 20 entities, the ministry said. "All ongoing related activities must cease immediately," its statement read. A separate list includes 20 Japanese companies for which Chinese exporters are required to submit ..
The reduction of the US reciprocal tariff on India from 25 per cent to 10 per cent will significantly improve competitiveness of domestic labour-intensive sectors in the US such as pharma, electronics, engineering, textiles, and gems and jewellery. In a major setback to US President Donald Trump's pivotal economic agenda for his second term, the US Supreme Court, in a 6-3 verdict written by Chief Justice John Roberts, ruled that the tariffs imposed by the president on nations around the world were illegal and that he had exceeded his authority when he imposed the sweeping levies. Later, through a proclamation, the US announced a temporary import surcharge of 10 per cent ad valorem on articles imported into the US for 150 days from February 24. These sectors at present were facing a reciprocal tariff of 25 per cent in the US market. The US is a major export destination for these sectors and reduction of tariff will help boost exports, Federation of Indian Export Organisations (FIEO)
The government on Friday announced seven measures, including credit assistance for e-commerce exporters and support for alternative trade instruments, with an aim to promote the country's outbound shipments. These measures are part of the Rs 25,060-crore export promotion mission. Out of 10 components of the mission, three have already been rolled out in January. To support exporters using digital channels, the commerce ministry announced credit facilities with interest subvention and partial credit guarantees. The Direct E-Commerce Credit Facility will provide support up to Rs 50 lakh with 90 per cent guarantee coverage. The Overseas Inventory Credit Facility will extend support up to Rs 5 crore with 75 per cent guarantee coverage, and an interest subvention of 2.75 per cent will be available, subject to an annual ceiling of Rs 15 lakh per applicant, the commerce ministry said. To promote export factoring as an affordable working capital solution for MSMEs, an interest subvention
Bajaj Auto on Sunday said its exports to Venezuela accounts for less than 1 per cent of its total overseas shipments. The South American country has plunged into a crisis after the US captured its President, Nicolas Maduro, on Saturday. "We do export to Venezuela. Pulsar and Boxer are very popular, but these exports are less than 1 per cent of our total exports," Rakesh Shamra, Executive Director, Bajaj Auto, said. He was responding to a query about the implications on its operations in the country following the capture of Maduro by the US. In the April-December period of FY26, Bajaj Auto's total exports stood at 16,39,971 units as against 13,73,595 units in the year-ago period, up 19 per cent. Another Indian automaker, TVS Motor Company, said it has no meaningful presence in Venezuela.