35 percent jump in India’s electronics goods exports in December 2024
New Delhi:
According to data released by the Ministry of Commerce, India’s ‘electronics exports’ increased by 35.1 percent in December 2024, which has increased from $ 2.65 billion to two years highest level of $ 3.58 billion in the same month of 2023. This indicates an increase in foreign demand for high -value Indian goods and an increase in domestic production capabilities.
Commerce Secretary Sunil Barthwal said, “The export of electronic goods in December 2024 has been the highest ever in the last 24 months.”
Electronics goods have emerged as the fastest growing segment in India’s export baskets due to the new manufacturing capacity in the country, inspired by the success of the Center’s Production-Link Promotion (PLI) scheme. The country’s electronic exports rose 27.4 percent to $ 22.5 billion in April-November of 2024-25, as compared to $ 17.66 billion in the same period in 2023-24.
The Industry Body India Cellular and Electronics Association (ICEA) has said that this sector has increased continuously in the last two years, as electronics exports to America from India have increased twice as annually to $ 6.6 billion during January-September 2023. .
Electronic goods have now come in third place among the top performing in India’s export sector, which is now third after engineering products and petroleum from sixth place last year. The electronics sector recorded a 45 percent increase in smartphone exports, as major companies like Apple and Samsung are expanding production in the country.
The PLI scheme and the immediate approval by the government are proving to be a major success as global veterans are looking forward to separately from China to set up alternative supply chains.
Apple’s entry into India has promoted smartphone exports this year. There has also been a great increase in exports of consumer electronics, solar modules, desktops and routers.
A senior official said that electronics exports are expected to rise further due to the establishment of semiconductor manufacturing capabilities in the country. The proposal was approved. It is the fifth semiconductor unit to be sanctioned under the India Semiconductor Mission (ISM) and the second unit to be established in Sanand.