look news india
Mumbai: Among the top ten products exported from the country, the highest export growth is being seen in the export of electronic goods. Led by smartphones, exports of electronic goods in the first eight months of the current financial year stood at $22.50 billion, which is 28 percent more than the exports of $17.66 billion in the same period of the last financial year.
Commerce Ministry sources said that as a result of this strong growth, electronics has seen the highest export growth among the country’s top ten export items in the current financial year.
Electronics exports were ranked sixth in terms of value in the first eight months of the last financial year, but have increased to the third position in this period of the current financial year.
Due to the Production Linked Incentive (PLI) scheme, there has been a huge increase in smartphone exports from the country. Smartphone exports grew 45 percent year-on-year to $13.11 billion in the first eight months of the current financial year.
The share of smartphones in electronic goods exports from the country, which was 51 per cent in the first eight months of the last financial year, has increased to 58 per cent in the first eight months of the current financial year. This share is expected to reach 60 to 62 percent by the end of the current financial year.
Apart from smartphones, other electronic items exported from the country include solar modules, desktops, routers and components.
India Cellular and Electronics Association sources said with China and Vietnam leading the world in electronics exports, India is set to increase its share.
Among India’s top ten exports, engineering goods rank first, followed by petro products and electronics products at third position.