India’s exports of electronics goods rose to $1.67 billion in December 2021, registering a growth of 33.99 per cent over $1.25 billion logged-in December 2020
Exports of electronics goods in India saw a 49 per cent year-on-year (YoY) surge in the April-December 2021 period, rising to $11 billion as against $7.4 billion recorded in the corresponding period of last year.
Data released by the Ministry of Commerce and Industry noted that India’s exports of electronics goods rose to $1.67 billion in December 2021, registering a growth of 33.99 per cent over $1.25 billion logged-in December 2020.
The overall exports of electronics goods in the financial year 2020-21 stood at $11.11 billion. In just three quarters of the current financial year the exports stands at $11.0 billion nearly the same as what was achieved in the full year of 2020-21 FY.
Mobile phones constitute a major chunk of India’s electronics goods sector exports. The sector includes IT Hardware (laptops, tablets), consumer electronics (TV and audio), industrial electronics, auto electronics, electronic components, LED Lighting, strategic electronics, PCBA, wearables and hearables, and telecom equipment.
The top 5 export destinations of India’s electronic goods exports during the April-November 2021 period were USA (18 per cent), UAE (16.6 per cent), China (7.6 per cent), Netherland (4.5 per cent) and Germany (4.2 per cent).
Steps taken by the Government which are expected to increase the domestic manufacturing and export of electronics goods including mobile phones include formulation of Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing, PLI for IT hardware, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), Modified Electronics Manufacturing Clusters (EMC 2.0) under the National Policy on Electronics, 2019, which envisages to position India as a global hub for Electronics, System Design and Manufacturing (ESDM).
Moreover, FDI up to 100 per cent under the automatic route is permitted for electronics manufacturing subject to applicable laws. Phased Manufacturing Programme (PMP) has been notified to promote domestic value addition in mobile phones and their sub-assemblies / parts manufacturing.
Tariff Structure has also been rationalised to promote domestic manufacturing of electronic goods, including Cellular mobile phones, Commerce and Industry Ministry said.