Indian Economy News

India’s telecom exports register 72% growth, rising from US$ 1.10 billion to US$ 2.03 billion

According to a recent report by the Mr. Scindia, India’s telecom exports experienced a significant increase of 72%, rising from Rs. 10,000 crores (US$ 1.10 billion) to Rs. 18,406 crores (US$ 2.03 billion). This dramatic increase in exports reflects the growing competitiveness of India’s telecommunications manufacturing and export environment. Factors that contributed to this increase in exports include increased domestic production, improved economies of scale, and improved capabilities in producing various types of telecom equipment and ancillary componentry. India’s export performance reflects the growth that has occurred in establishing itself as a trustworthy supplier of telecom goods on an international basis.
The recent announcement by the government demonstrates how government-led initiatives intended to increase domestic manufacturing and exports have contributed significantly to the growth of the telecom sector's export performance. It has also been stated that the prevalence of exports from the telecom sector indicates that the sector is becoming increasingly integrated into global value chains and that there is an increased demand for Indian-manufactured telecom products in international markets. The increasing number of telecom exports is consistent with the Government's long-term initiative of developing self-reliant economies and strengthening India's position in the global trade arena. Thus, strong growth in telecom-related exports is a clear indication that there is substantial potential for the telecom sector to have a positive impact on the overall economy, expand the manufacturing base, and fuel export-led development.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.