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INDIA’S EXPORTS OF ELECTRONIC GOODS- RECENT TRENDS

by admin

Date & Time: Jan 29, 2022 6:00 PM

Read Time: 2 minute


HIGHLIGHTS:

  • India's electronic goods exports totaled USD 1.67 billion.
  • It increased by 33.99 percent as compared to December 2020 exports.
  • Mobile phones account for a significant portion of India's electronic goods exports.

What is in the News?

In December 2021, India's electronic goods exports totaled USD 1.67 billion. It increased by 33.99 percent as compared to December 2020 exports of USD 1.25 billion.

Points to Remember

From April to December 2021, the electronic sector's exports increased by 49 percent, reaching USD 11.0 billion, up from USD 7.4 billion in 2020.
Exports of Electronic Goods increased by 26% and 131 percent, respectively, from USD 8.8 billion in April-December 2019 to USD 4.8 billion in April-December 2014.

Top 5 exporting countries

From April to November 2021, the top 5 export destinations will be:
  • The United States of America (18 percent )
  • UAE (United Arab Emirates) (16.6 percent )
  • China is a country that has a (7.6 percent )
  • The Netherlands (4.5 percent) and Germany (4.2 percent ).

Major chunk of electronics export

Mobile phones account for a significant portion of India's electronic goods exports. IT Hardware, such as laptops and tablets; Industrial electronics; Consumer electronics, such as TVs and audio; LED Lighting; Strategic electronics, Auto electronics, electronic components, Telecom equipment, wearables, and audio devices; and Strategic electronics, Auto electronics, electronic components, Telecom equipment, wearables, and audio devices.

In the years 2020-21, total exports are expected to increase

Electronics goods exports totaled USD 11.11 billion in fiscal year 2020-21. Exports of USD 11.0 billion were obtained in the first three quarters.

Steps taken by the government to boost industry and exports

The government has taken a number of initiatives to boost domestic manufacturing and exports of electronic goods such as cellphones:
Large-Scale Electronics Manufacturing Production Linked Incentive Scheme (PLI),
PLI for IT hardware
  • Electronic Components and Semiconductors Manufacturing Promotion Scheme (SPECS)
  • Electronics Manufacturing Clusters 2.0 (EMC 2.0), in accordance with the 2019 National Policy on Electronics.
  • India is attempting to establish itself as a global hub for electronics, system design, and manufacturing (ESDM).
  • For electronics manufacturing, FDI of up to 100% through the automatic route is permissible.
  • The Phased Manufacturing Programme (PMP) was announced to encourage domestic value addition in the manufacturing of mobile phones and related parts or sub-assemblies.

Also Read: TRAI: प्रीपेड मोबाइल ग्राहकों के हक की बात, अब मिलेगी 28 दिनों की जगह 30 दिनों की रिचार्ज वैलिडिटी!


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