McKinsey: India now supplies 40% of US smartphones, overtaking China
Business
Big news: India now supplies 40% of the smartphones heading to the US pushing past China for the top spot.
According to a McKinsey & Company report, this shift is part of a bigger move by the US to spread out its supply chain and rely less on China: over $80 billion worth of business has already been redirected.
India and ASEAN reshape electronics trade
India's rise in electronics shows how global trade is changing fast.
Even though it's 13,000km from the US India has boosted its manufacturing game and smartphone exports.
At the same time, ASEAN countries are stepping up for laptops.
All this points to countries teaming up more strategically as they rethink who they do business with around the world.