“Smartphones surpass diamonds in India’s exports to US, reveals latest data” – Business Standard

In a surprising turn of events, smartphones have overtaken diamonds in India’s exports to the United States, according to recent data reported by Business Standard. This shift in the export market highlights the growing dominance of technology in the global economy.

India, known for its thriving diamond industry, has long been a major player in the international diamond market. However, the rise of smartphone manufacturing in the country has led to a significant increase in smartphone exports to the US.

The data reveals that smartphones accounted for a larger share of India’s exports to the US in the past year, surpassing the value of diamond exports. This shift underscores the increasing demand for Indian-made smartphones in the US market.

Experts attribute this change to India’s competitive advantage in smartphone manufacturing, as well as the growing popularity of Indian brands in the US. With companies like Xiaomi and OnePlus making a name for themselves in the global market, Indian smartphones are becoming increasingly sought after by consumers.

As India continues to expand its presence in the technology sector, the country’s export market is expected to further diversify. While diamonds have long been a symbol of luxury and wealth, it seems that smartphones are now taking center stage in India’s exports to the US.