India's Electronic Goods Exports Surge 42%

The country's electronic goods exports increased by nearly 42% to nearly Rs 1.17 lakh crore in the previous fiscal year, the government reported to Parliament today. In the last five years, the country has seen a significant increase in both electronic goods manufacturing and exports, according to Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, in a written reply to the Lok Sabha.

"The export of electronic goods has substantially increased in the period 2017-18 to 2021-22 with a compound annual growth rate of 29 per cent whereas the production has grown with a compound annual growth rate of 17.9 per cent," he said.
According to government data shared in Lok Sabha, India's electronics export was Rs 81,822 crore in 2020-21, rising to Rs 1,16,894 crore in 2021-22. Similarly, the country's electronics production increased from Rs 5,33,550 crore in 2019-20 to Rs 5,54,461 crore in 2020-21.

The minister also discussed various programmes, such as a production-link incentive scheme for large-scale electronics manufacturing, a phase manufacturing programme, an electronic development fund, and so on.

He stated that 314 applicants with investments totaling Rs 86,912 crore and committed incentives totaling Rs 9,544 crore have been approved thus far. Incentives totaling Rs 1,781.02 crore have been distributed. He added that out of the 314 approved units, 271 have invested Rs 31,416 crore and 233 have begun production.