India’s Electronics Exports Surge 35% To $3.58 Billion In December; Reach 24-Month High

India’s electronics exports increased 35.1% year-on-year to $3.58 billion in December 2024, rising from $2.65 billion in December 2023, according to Commerce Ministry data. This marks the highest monthly exports in the last two years. The surge reflects higher global demand for Indian goods and expanded domestic production capacities.

Commerce Secretary Sunil Barthwal said, “In December 2024, electronic goods exports have been the highest in the last 24 months.”

Electronics have become the fastest-growing segment in India’s export basket. The success of the production-linked incentive (PLI) scheme has driven this growth. Exports of electronics rose 27.4% to $22.5 billion in April-November 2024-25, up from $17.66 billion in the same period last year.

Smartphones Lead Electronics Export Growth

India’s electronics exports to the US more than doubled year-on-year to $6.6 billion between January and September 2023, according to the India Cellular and Electronics Association (ICEA). Electronics now rank third among India’s top export categories, up from sixth place last year, trailing only engineering goods and petroleum.

Smartphone exports increased by 45% as companies like Apple and Samsung expanded production in India. Apple’s suppliers, including Foxconn, Pegatron, and Tata Electronics, played a key role in boosting exports. Consumer electronics, solar modules, desktops, and routers also saw significant export growth.

India’s semiconductor manufacturing sector is set to expand further. The Union Cabinet approved a ₹3,307 crore semiconductor unit by Kaynes Semicon in Sanand, Gujarat. This is the fifth semiconductor project under the India Semiconductor Mission (ISM), which has drawn total investments of ₹1,52,307 crore ($18.15 billion).

The ISM, launched in December 2021 with an outlay of ₹76,000 crore, aims to establish India as a global semiconductor hub. Electronics Minister Ashwani Vaishnaw called semiconductors a “foundational industry” for India’s manufacturing goals.

India’s electronics manufacturing sector has grown rapidly, crossing the $100 billion mark in March 2024. This reflects a significant rise from $49 billion in 2017. Global giants seeking alternative supply chains are driving further growth. India is well-positioned to capitalize on these opportunities.

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