Latest News | Electronic Goods Exports Up 49 Pc in Apr-Dec 2021: Govt
Get latest articles and stories on Latest News at LatestLY. Electronic goods exports rose by 49 per cent to USD 11 billion during April-December 2021 as against USD 7.4 billion in the same period of the previous year, the commerce ministry said on Thursday.
New Delhi, Jan 27 (PTI) Electronic goods exports rose by 49 per cent to USD 11 billion during April-December 2021 as against USD 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.
Also Read | Union Budget 2022-23: Rise in Old-Age Pension, Re-Engaging Seniors Among Demands.
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 | Vivo Y75 5G With Dimensity 700 SoC Launched in India at Rs 21,990.
In 2020-21, the exports stood at USD 11.11 billion.
"The sector is set to break all-time record highs, far exceeding the previous high USD 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.
The document lays the roadmap to transform India into a USD 300 billion electronics manufacturing powerhouse over the next five years, from the current USD 75 billion.
Electronic goods exports are expected to increase from the projected USD 15 billion in 2021-22 to USD 120 billion by 2026, it added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)