Mobile phones, IT hardware including laptops and tablets, consumer electronics, industrial electronics and auto electronics are the key drivers of this growth
India’s export of electronic goods grew by almost 88 per cent from USD 6600 million in 2013-14 to USD 12,400 million in 2021-22, as per data released by the Ministry of Commerce and Industry.
This comes as the government increases its efforts, through a combination of policies and initiatives, to position India as a global hub for electronics system design and manufacturing.
Mobile phones, IT hardware including laptops and tablets, consumer electronics such as televisions and audio, industrial electronics and auto electronics are the key drivers of this growth, according to a statement released by the Ministry of Commerce and Industry.
Electronic goods exports grew 49 per cent in April-December 2021 at $11 billion over $7.4 billion during the same period last year with the US and the UAE being the top two destinations.
The overall exports of electronics goods in FY 21 were $11.11 billion. With $11 billion exports achieved in the first three-quarters of FY22, the sector is set to break all-time record highs, far exceeding the previous high of $11.7 billion recorded in FY20.
The country’s merchandise export in January 2022 increased by 23.69 per cent to USD 34.06 billion over USD 27.54 billion in January 2021 and in the period April-January 2021-22, it rose by 46.53 per cent to USD 335.44 billion over USD 228.9 billion in 2020-21 (April-January).
The National Policy on Electronics 2019 designed to drive capabilities in the country for developing core components and creating an enabling environment for industry to compete globally has played a key role in the consistent growth in India’s electronic exports.
Four schemes namely the Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), Modified Electronics Manufacturing Clusters Scheme (EMC 2.0) the Production Linked Incentive Scheme (PLI) for IT Hardware have been crucial in giving a boost to the electronics sector.
