India registers 49% yoy growth in exports of electronic goods to $11B in 9MFY22

28 Jan 2022 , 10:34 AM

The Ministry of Commerce & Industry announced that the country’s exports of Electronic Goods touched $1.67 Billion last month, registering a growth of 33.99% over $1.25 Bn logged in December 2020.

So far in FY22, April – December 2021, the Sector Exports registered a growth of 49% to $11.0 Billion (Provisional) over $7.4 Billion during the same period in the year 2020. As compared to April-December 2019 ($8.8 Billion) and April-December 2014 ($4.8 Billion), exports of Electronic Goods registered a growth of 26% and 131% respectively.

Notably, Mobile Phones constitute a major chunk of India’s Electronics Goods sector exports. The sector includes IT Hardware (laptops, tablets), Consumer electronics (TV and audio), Industrial electronics, Auto electronics, Electronic components, LED Lighting, Strategic electronics, PCBA, Wearables and hearables, and Telecom equipment.

Top 5 export destinations in April-November 2021 (latest available, share% in bracket) are: U S A (18%), UAE (16.6%), China (7.6%), Netherland (4.5%) & Germany (4.2%).

The overall exports of Electronics Goods in the last Financial Year (March, 2020-April, 2021) was $11.11 Billion, and with $11.0 Billion exports achieved in the first three-Quarters of FY2021-22, the sector is set to break all-time record highs, far exceeding the previous high of $11.7 Bn recorded in FY2019-20.