India’s export of Electronic Goods registered a growth of more than 33 % touching export remittance from Electronic Goods to USD 1.67 Billion in December, claimed the Ministry of Commerce and Industry here on Thursday.
“Mobile Phones constitute a major chunk of India’s Electronics Goods sector exports. The sector includes IT Hardware (laptops, tablets), Consumer electronics (TV and audio), Industrial electronics, Auto electronics, Electronic components, LED Lighting, Strategic electronics, PCBA, Wearables and hearables, and Telecom equipment,” the Ministry said
In the first three quarters of this fiscal year (During April-December 2021), the Exports from Electronics goods had registered a growth of 49% touching USD 11.0 Billion (Provisional) remittance over USD 7.4 Billion during the same period in the year 2020, the Ministry said.
Export remittance from this sector in 2014 during the first three quarters was only USD 4.8 Billion, which increased to USD 8.8 Billion in 2019, the Ministry said
As compared to April-December 2019 (USD 8.8 Billion) and April-December 2014 (USD 4.8 Billion), exports of Electronic Goods registered a growth of 26% and 131% respectively.
The Ministry said the top 5 export destinations during which period were U S A (18% share), UAE (16.6% share), China (7.6%), Netherland (4.5%), and Germany (4.2%).
The overall exports of Electronics Goods in the last Financial Year was USD 11.11 Billion, and with USD 11.0 Billion exports achieved in the first three-Quarters of FY2021-22, the sector is set to break all-time record highs, far exceeding the previous high of $11.7 Bn recorded in FY2019-20.