Business News | PM Narendra Modi Applauds Surge in India's Electronics Exports
Get latest articles and stories on Business at LatestLY. PM Modi tweeted, "This is indeed a matter of immense joy. India's prowess in electronics is powered by our innovative Yuva Shakti. It is also a testament to our emphasis on reforms and boosting @makeinindia . India remains committed to continuing this momentum in the times to come."
New Delhi [India], August 5 (ANI): Prime Minister Narendra Modi expressed his delight on social media platform X, (formerly known as Twitter), highlighting highlighted India's growing strength in electronics and the country's commitment to reforms and the "Make in India" initiative, retweeting a post by Union Minister for Electronics and Information Technology Ashwini Vaishnaw. Modi's post
PM Modi tweeted, "This is indeed a matter of immense joy. India's prowess in electronics is powered by our innovative Yuva Shakti. It is also a testament to our emphasis on reforms and boosting @makeinindia . India remains committed to continuing this momentum in the times to come."
https://x.com/narendramodi/status/1820366105619390717?t=akuWGslVIZoML9GMCeSl1g&s=08
Union Minister Ashwini Vaishnaw had earlier posted on X celebrating the milestone, "Bharat's electronics export now among the top 3! Making in India, shipping worldwide."
His post was accompanied by a media report attributing the surge in electronics exports to an increase in Apple iPhone exports from India.
According to the media report cited by Vaishnaw, the export of Apple iPhones has propelled electronics to the third position among India's top ten exports by the end of the first quarter (Q1) of the 2024-25 fiscal year (FY25).
Electronics exports have now surpassed gems and jewellery, with only engineering goods and petroleum products ranking higher. In the same quarter of the previous fiscal year (FY24), electronics held the fourth spot.
Data released by the Department of Commerce indicates that electronics exports rose by 22 per cent, reaching $8.44 billion at the end of Q1 FY25, an increase of USD 1.5 billion from $6.94 billion in Q1 FY24. This growth underscores the impact of India's focus on boosting manufacturing and exports through initiatives like "Make in India."
The increase in electronics exports reflects India's growing capabilities and competitive edge in the global electronics market. It also highlights the successful integration of innovative strategies and government reforms aimed at enhancing India's manufacturing sector. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)