look news india
Mumbai: It is seen that India is increasing its presence in some major markets like America and Britain by replacing China's dominance in electronic exports.
Government sources are saying that India is benefiting from the bitterness in China's relations with America and Britain in recent years.
In November last year, India's electronic exports to America were 7.65 percent as compared to China, which was 2.50 percent in November 2021.
The Government of India is providing various incentives to manufacturers to increase domestic electronics production. This includes tax relief, capital support, easy process of land acquisition etc.
India's electronics exports to America doubled to $6.60 billion from January to September 2023. Which was at its highest level till date. On the other hand, US imports from China witnessed a decline.
Foreign electronics companies are manufacturing in India and exporting it to other countries. However, India is seeing limited growth in market share in Europe and Japan compared to the US and UK.
Along with China, these markets are also accepting India as an alternative. He did not give full support to China.