Electronic goods exports rise by 49% to $11 billion during April-December 2021

The commerce ministry has said that India’s electronic goods exports surged by 49 percent to $11 billion during April-December 2021 as against $7.4 billion recorded in the corresponding period of last year. In 2020-21, the exports stood at $11.11 billion.

The ministry noted that top five export destinations were the US, UAE, China, Netherlands and Germany. Mobile phones constituted a major chunk of electronic goods shipments. Other sectors which recorded healthy growth included IT hardware (laptops, tablets), consumer electronics (TV and audio), industrial electronics, auto electronics, components, LED lighting and telecom equipment.

It further said the sector is set to break all-time record highs, far exceeding the previous high USD 11.7 billion recorded in 2019-20. Steps taken by the government which are expected to increase the domestic manufacturing and exports include the Production Linked Incentive Scheme (PLI), Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), and Modified Electronics Manufacturing Clusters. 

The Ministry of Electronics and Information Technology recently released the second volume of a five-year roadmap and vision document for the sector. The document lays the roadmap to transform India into a $300 billion electronics manufacturing powerhouse over the next five years, from the current $75 billion. Electronic goods exports are expected to increase from the projected $15 billion in 2021-22 to $120 billion by 2026.