New Delhi:
According to data released by the Commerce Ministry, India’s ‘electronics exports’ have increased by 35.1 percent in December 2024, from $ 2.65 billion in the same month of 2023 to a two-year high of $ 3.58 billion. This reflects increased foreign demand for high-value Indian goods and increased domestic production capacities.
Commerce Secretary Sunil Barthwal said, “The export of electronic goods in December 2024 has been the highest so far in the last 24 months.”
Electronics goods have emerged as the fastest growing segment in India’s export basket as new manufacturing capacity has come up in the country, driven by the success of the Centre’s production-linked incentive (PLI) scheme. The country’s electronics exports increased by 27.4 percent to $22.5 billion in April-November 2024-25, compared to $17.66 billion in the same period in 2023-24.
Industry body India Cellular and Electronics Association (ICEA) has said the sector has witnessed sustained growth over the past two years as electronics exports from India to the US are set to double year-on-year to $6.6 billion during January-September 2023. .
Electronic goods have now become the third top performer in India’s export sector, up from sixth place last year, behind engineering products and petroleum. In the electronics sector, smartphone exports have registered a growth of 45 percent as major companies like Apple and Samsung are expanding production in the country.
The PLI scheme and prompt approval by the government is proving to be a major success as global giants look beyond isolated China to establish alternative supply chains.
Apple’s entry into India has boosted smartphone exports this year. Strong growth has also been recorded in exports of consumer electronics, solar modules, desktops and routers.
A senior official said that electronics exports are expected to gain further momentum due to the establishment of semiconductor manufacturing capacities in the country. The Union Cabinet recently approved Keynes Semicon to set up a semiconductor unit in Sanand, Gujarat with an investment of Rs 3,307 crore. The proposal was approved. This is the fifth semiconductor unit to be sanctioned under the Bharat Semiconductor Mission (ISM) and the second unit to be set up in Sanand.