From the net importer of Electronic goods two decades ago, India’s export of electronic goods has reached an all time high at USD 12,400 Million in this fiscal year—88 % more than what it was in 2014, reveals the data released by the Ministry of Commerce here on Monday.
Two decades ago, India was a net importer of most of the electronic goods, mainly mobile phone, IT hardware, Laptops, tablets, consumer electronics and other industrial electronics and auto electronic components.
Enthusiastic over the consistent growth, Union Commerce Minister, Piyush Goyal tweeted, “World wants ‘Made in India’. 88% jump in export of electronic goods from April-January 2021-22 over same period in 2013-14. Government’s Initiatives are boosting domestic manufacturing of quality and globally competitive products”.
The Government had introduced National Policy on Electronics 2019 aiming to position India as a global hub for Electronics System Design and Manufacturing (ESDM) by encouraging and driving capabilities in the country for developing core components and creating an enabling environment for the industry to compete globally, said a senior officer of the Ministry of Commerce.
He said government has introduced 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 to give boost to the electronics sector and establish the necessary ecosystem.
India has also been seeing consistent growth in exports. “India’s merchandise export in January 2022 increased by 23.69% to USD 34.06 billion over USD 27.54 billion in January 2021; recording an increase of 31.75% over USD 25.85 billion in January 2020,” he said.
India’s merchandise export in 2021-22 (April-January) rose by 46.53% to USD 335.44 billion over USD 228.9 billion in 2020-21 (April-January), marking an increase of 27.0% over USD 264.13 billion in 2019-20 (April-January), he said.