Moneycontrol PRO
Upcoming Event:Super25 3.0- India’s Largest Online Stock Traders Conference brought to you by Moneycontrol Pro & Espresso
you are here: HomeNewsBusiness

Electronic goods exports up 49% in April-December 2021: Govt

Top five export destinations were the US, UAE, China, Netherlands and Germany.

January 27, 2022 / 09:03 PM IST
Representative image

Representative image

Electronic goods exports rose by 49 per cent to $11 billion during April-December 2021 as against $7.4 billion in the same period of the previous year, the commerce ministry said on Thursday. Top five export destinations were the US, UAE, China, Netherlands and Germany, it added.

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.

ALSO READ: Flipkart acquires electronics recommerce firm Yaantra

In 2020-21, the exports stood at $11.11 billion. "The sector is set to break all-time record highs, far exceeding the previous high $11.7 billion recorded in 2019-20," the ministry added.

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.

Close
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, it added.



Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

PTI
first published: Jan 27, 2022 09:03 pm
Sections
ISO 27001 - BSI Assurance Mark