📊Executive Summary

The United States has granted a temporary exemption from reciprocal tariffs on various Indian electronics exports, including smartphones and semiconductors, due to an ongoing national security investigation. This exemption is crucial for Indian manufacturers like Apple and Samsung, who have expanded operations in India, as it allows duty-free imports of these products. India has recently become the largest supplier of smartphones to the US, significantly increasing its electronics exports, which surged by 23.5% in June 2025. This development is tied to India's Production-Linked Incentive scheme and indicates a strong growth trajectory in the electronics sector, particularly for mobile devices....