📊Executive Summary

The United States has exempted laptops, smartphones, and related electronics imported from India from the 25% tariffs imposed on other Indian goods, effective August 1, 2025. This exemption is part of the ongoing US Section 232 review, aimed at protecting sensitive technology products. As India has become the largest supplier of smartphones to the US, contributing 44% of the market in Q2 2025, this tariff exemption provides significant stability for electronics manufacturers like Apple and Samsung, who rely on Indian production. The exemption allows manufacturers to maintain or expand their market share in the US amidst rising costs in other sectors. However, the status of these exemptions remains under review, with potential implications for the future of US-India trade relations....