BackIndia’s electronic exports jumps 49% in April-Dec 2021 over low base
While mobile phones constituted a major chunk of the electronics sector's exports, the US, UAE, and China emerged as the top export destinations during the period
PremiumBoosted by a low base in 2020, India’s electronic exports jumped 49% between April to December 2021 compared to the same period the previous year, official numbers showed on Thursday.
While mobile phones constituted a major chunk of the electronics sector's exports, the US, UAE, and China emerged as the top export destinations during the period.
An official statement from ministry of commerce and industry said that the overall exports of electronics goods in the last financial year were $ 11.11 bn. “With $11 bn exports achieved in the first three-quarters of FY 2021-22, the sector is set to break all-time record highs, far exceeding the previous high of $11.7 bn recorded in FY2019-20," the statement said.
FDI up to 100% under the automatic route is permitted for electronics manufacturing subject to applicable laws. Phased Manufacturing Programme (PMP) has been notified to boost domestic value addition in mobile phones and their sub-assemblies / parts manufacturing, as per an official statement.
Besides, the ministry said that it had formulated Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing, PLI for IT hardware, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), Modified Electronics Manufacturing Clusters (EMC 2.0) under the National Policy on Electronics, 2019.
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