Grid challenge
India’s ambitious renewable energy goals have placed the country at the forefront of the global energy transition.
The Centre on Monday informed that electronic goods exports increased by 16.91 per cent in the month of June (year-on-year), bolstered by the production-linked incentive (PLI) scheme.
The exports increased from $2.42 billion in June 2023 to $2.82 billion last month, according to data shared by the Ministry of Commerce and Industry.
In April, the electronic goods exports increased by 25.8 per cent, from $2.11 billion in April 2023 to $2.65 billion this year.
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Led by mobile phones, the export of electronic goods has seen a meteoric rise in the last 10 years.
The country’s electronic manufacturing is likely to reach around $250 billion in the next five years. At present, the electronic exports of the country stand at around $125 to $130 billion.
India’s domestic production has grown at a compound annual growth rate (CAGR) of 13 per cent, from $49 billion in FY17 to $101 billion in FY23.
Meanwhile, India’s total exports during the April-June quarter (Q1 FY25) is estimated at $200.33 billion registering a positive growth of 8.60 per cent. Total imports during the quarter are estimated at $222.89 billion, registering a growth of 8.47 per cent, according to the ministry.
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