New Delhi, July 15 (IANS) The Centre on Monday informed that electronic goods exports increased by 16.91 per cent in the month of June (year-on-year), bolstered by the production-linked incentive (PLI) scheme. The exports increased from $2.42 billion in June 2023 to $2.82 billion last month, according to data shared by the Ministry of Commerce and Industry. In April, the electronic goods exports increased by 25.8 per cent, from $2.11 billion in April 2023 to $2.65 billion this year. Led by mobile phones, the export of electronic goods has seen a meteoric rise in the last 10 years.
The country’s electronic manufacturing is likely to reach around $250 billion in the next five years. At present, the electronic exports of the country stand at around $125 to $130 billion. India’s domestic production has grown at a compound annual growth rate (CAGR) of 13 per cent, from $49 billion in FY17 to $101 billion in FY23. Meanwhile, India’s total exports during the April-June quarter (Q1 FY25) is estimated at $200.33 billion registering a positive growth of 8.60 per cent. Total imports during the quarter are estimated at $222.89 billion, registering a growth of 8.47 per cent, according to the ministry.
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