The Centre on Monday informed that electronic goods exports increased by 16.91 per cent in June (year-on-year), bolstered by the production-linked incentive (PLI) scheme. The exports increased from USD 2.42 billion in June 2023 to USD 2.82 billion last month, according to data shared by the Ministry of Commerce and Industry.
In April, electronic goods exports increased by 25.8 per cent, from USD 2.11 billion in April 2023 to USD 2.65 billion this year (2024).
Led by mobile phones, the export of electronic goods has seen a meteoric rise in the last 10 years.
The country’s electronic manufacturing is likely to reach around USD 250 billion in the next five years. At present, the electronic exports of the country stand at around USD 125 to USD 130 billion.
India’s domestic production has further grown at a compound annual growth rate (CAGR) of 13 per cent, from USD 49 billion in FY17 to USD 101 billion in FY23.
Meanwhile, India’s total exports during the April-June quarter (Q1 FY25) are estimated at USD 200.33 billion registering a positive growth of 8.60 per cent. Total imports during the quarter are estimated at USD 222.89 billion, registering a growth of 8.47 per cent, according to the ministry.
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Inputs from IANS
