During the fiscal year 2022-23, there was a notable surge in electronic goods exports, witnessing a robust 24% increase from April to November compared to the same period in the previous fiscal year. This significant growth, ranking as the highest among India’s top 10 export categories, was primarily driven by mobile exports facilitated by the Production Linked Incentive (PLI) scheme. Consequently, electronics climbed from the sixth to the fifth position within the top 10 exports. By November, electronics exports reached US$ 17.7 billion, a substantial increase from the previous year’s US$ 14.4 billion during the same period, narrowing the gap with the fourth position—currently held by drugs and pharmaceuticals at US$ 17.9 billion to a mere US$ 200 million. This reduction in the gap from the earlier figure of US$ 1.3 billion in 2022 indicates the burgeoning success of the electronic goods export sector.
Data released by the Ministry of Commerce & Industry underscores that mobile exports constitute the largest product category within electronics, contributing to nearly 90% of the US$ 3.3 billion increase in electronics exports. This highlights the pivotal role of mobile exports, particularly under the PLI scheme, in steering the positive trajectory of electronic goods exports.
The remarkable performance of the electronic goods sector positions it as a key contributor to India’s export landscape, showcasing the effectiveness of strategic initiatives and incentives implemented by the government.
