US tariffs may cost India's electronics sector up to $30 billion
This is despite Apple and Samsung likely to get tariff-related exemptions, including 100% semiconductor tariffs, as both companies-who have manufacturing operations in India-have announced plans to make major investments in the US.
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"The latest developments will make India even more reliant on smartphone exports, while the rest of electronics may suffer, which in turn will hurt the entire ecosystem," said an executive.
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Trump tariffs cast a pall of gloom over India's exports, investments and Rupee
In FY25, India exported $14.6 billion worth of electronics to the US, with smartphones accounting for $10.5 billion or about 72%. The rest comprised non-smartphone items such as electric inverters, battery chargers, and transformer parts.
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Overall, India exported $38.6 billion worth of electronics in FY25. The US was the leading export destination with a 38% share, followed by UAE at 9.6%, Netherlands at 7.4%, and UK at 4.8%. Countries like the UAE and the Netherlands also act as transit hubs for Indian electronics exports to the US.
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India Inc rallies behind roaring brand India as US tariff spat escalates
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As per a comparison of HS codes for products exported to the US, already nearly $4 billion worth of India's non-smartphone electronics exports to the US are exposed to the 50% tariffs. Rates on these products and others are set to go even higher due to the heavy tariffs announced on semiconductors.
Not all electronics exports are exempted from reciprocal tariffs. The April 5 exemption order by the US customs and border protection specifically lists products that don't fall under reciprocal tariffs like smartphones, tablets, laptops, servers and certain telecom equipment.
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