Supported by government's efforts, the export of electronic products overtakes garment exports
- IBEF
- April 18, 2023
Times of India (ToI) has reported that the export of electronic products from India has overtaken ready-made garment exports.
After a sharp rise in the export of mobile phones, the export of electronic goods is now on the rise. Over US$ 11 billion worth of mobile phones were exported last fiscal year. According to data made public by the commerce department, the exports of electronic goods may have risen by more than 50% to US$ 23.6 billion in the fiscal year 2022-23. Last fiscal year, ready-made clothing exports climbed by more than 1% and totalled US$ 16.3 billion.
As per the report, electronic goods were the sixth-biggest item in the basket. Due to the government's efforts to increase mobile phone production in India, electronic exports have increased significantly in recent years. This manufacturing includes marquee devices like Apple's iPhones.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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