India's export of electronic goods up by 88 per cent since 2013-14
New Delhi [India], February 28 (ANI): Pushed by a combination of policies and initiatives to position India as a global hub for electronics system design and manufacturing, India's export of electronic goods rose by almost 88 per cent from USD 6600 million in 2013-14 to USD 12,400 million in 2021-22, the Ministry of Commerce and Industry said on Monday.
ANI
Feb 28, 2022 16:32 IST
New Delhi [India], February 28 (ANI): Pushed by a combination of policies and initiatives to position India as a global hub for electronics system design and manufacturing, India's export of electronic goods rose by almost 88 per cent from USD 6600 million in 2013-14 to USD 12,400 million in 2021-22, the Ministry of Commerce and Industry said on Monday.
Mobile phones, IT hardware including laptops and tablets, consumer electronics such as televisions and audio, industrial electronics and auto electronics are the key drivers of this growth, according to a statement released by the Ministry of Commerce and Industry.
"World wants 'Made In India'. Government's initiatives are boosting domestic manufacturing of quality & globally competitive products," Commerce Minister Piyush Goyal said in a tweet.
Official figures show electronic goods exports grew 49 per cent in April-December 2021 at $11 billion over $7.4 billion during the same period last year with the US and the UAE being the top two destinations. The overall exports of electronics goods in FY 21 were $11.11 billion. With $11 billion exports achieved in the first three-quarters of FY22, the sector is set to break all-time record highs, far exceeding the previous high of $11.7 billion recorded in FY20.
The country's merchandise export in January 2022 increased by 23.69 per cent to USD 34.06 billion over USD 27.54 billion in January 2021 and in the period April-January 2021-22, it rose by 46.53 per cent to USD 335.44 billion over USD 228.9 billion in 2020-21 (April-January). The National Policy on Electronics 2019 designed to drive capabilities in the country for developing core components and creating an enabling environment for industry to compete globally has played a key role in the consistent growth in India's electronic exports.
Four schemes namely the Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), Modified Electronics Manufacturing Clusters Scheme (EMC 2.0) the Production Linked Incentive Scheme (PLI) for IT Hardware have been crucial in giving a boost to the electronics sector.
The government has been taking up a number of proactive steps to boost exports. An export monitoring desk has been set up to help remove impediments, constraints and bottlenecks faced by the export sector, especially during the pandemic and various acts under the Department of Commerce are being reviewed to remove redundancies and outdated provisions. Efforts are being made to reduce the compliance burden through rationalization and decriminalization and several initiatives are being undertaken to improve the ease of doing business.
An IT-based platform for providing exporters licensing and addressing their grievances is in the works. The Government is also working on enhancing the value of branding of Indian exports to improve India's global standing as a reliable supplier and proactive steps are being undertaken to align the nation with the global value chain. (ANI)
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