Electronic goods export growth in India up 49% at $11.0 bn in April-December 2021: Commerce Ministry

Electronic goods export growth in India up 49% at $11.0 bn in April-December 2021: Commerce Ministry

AgenciesUpdated: Friday, January 28, 2022, 09:21 AM IST
article-image
The top five export destinations in April-November 2021 are - the USA (18 per cent), UAE (16.6 per cent), China (7.6 per cent), Netherlands (4.5 per cent) and Germany (4.2 per cent)./ Representational image. / | Photo: Twitter

India's electronic goods exports registered a growth of 49 per cent at $11.0 billion in April-December 2021 compared to $7.4 billion during the same period in 2020, Ministry of Commerce & Industry has said in a statement.

The top five export destinations in April-November 2021 are - USA (18 per cent), UAE (16.6 per cent), China (7.6 per cent), Netherlands (4.5 per cent) and Germany (4.2 per cent).

Meanwhile, the electronic goods exports in December 2021 touched $1.67 billion, registering a growth of 33.99 per cent, over $1.25 billion logged in December 2020.

The overall electronic goods exports FY 2021 were $11.11 billion.

"With $11.0 billion exports achieved in the first three quarters of FY22, the sector is set to break all-time record highs, far exceeding the previous high of $11.7 billion recorded in FY 20," the ministry added.

The electronic goods sector includes IT hardware (laptops, tablets), consumer electronics (TV and audio), industrial electronics, auto electronics, electronic components, LED lighting, wearables and hearables, and Telecom equipments among others. Mobile Phones constitute a major chunk of India's electronics goods exports.

The Ministry of Electronics and Information Technology (MeitY) recently released the second volume of a 5-year road map and vision document for the electronics sector; the first volume was released in November 2021.

The document lays the road map to "transform India into a $300 billion electronics manufacturing powerhouse over the next 5 years, from the current US$75 billion. This will make electronics goods among India's 2-3 top ranking exports by 2026".

As per the vision document, the electronics goods exports are expected to increase from the projected $15 billion in 2021-22 to $120 billion by 2026.

(With inputs from IANS)

RECENT STORIES

Latest Trends In Brand Protection 2024

Latest Trends In Brand Protection 2024

Motilal Oswal Secures ₹1,250 Cr In First Close For New AIF Real Estate Fund

Motilal Oswal Secures ₹1,250 Cr In First Close For New AIF Real Estate Fund

Salaries In India To Rise By 9.5% In 2024 Amidst Global Challenges: Aon survey

Salaries In India To Rise By 9.5% In 2024 Amidst Global Challenges: Aon survey

Coal India May Exceed Capex Target Of ₹16,500 Cr For FY24: Govt

Coal India May Exceed Capex Target Of ₹16,500 Cr For FY24: Govt

'Clarifying, Simplifying And Demystifying': IIT-Madras Granted Record Number Of Patents In 2023

'Clarifying, Simplifying And Demystifying': IIT-Madras Granted Record Number Of Patents In 2023