India's electronic goods exports surged by 25.8% in April compared to the same period last year, jumping from $2.11 billion in April 2023 to $2.65 billion this year, as reported by the Ministry of Commerce and Industry on Wednesday.
April witnessed a substantial increase in India's total exports, encompassing both merchandise and services, reaching an estimated $64.56 billion, marking a significant growth of 6.88% compared to April of the previous year.
The Ministry listed several industries that have given an impetus to merchandise exports: electronic goods, organic and inorganic chemicals, petroleum products, and drugs and pharmaceuticals.
One of the very obvious factors contributing to the export growth in India is the electronics sector, spearheaded by the export of mobile phones, which has increased meteorically over the last decade.
Exports of mobile phones from India stood at Rs 1,556 crore in 2014-15. However, according to industry data, there was huge growth in the cumulative exports of mobile phones during the period starting from 2014 to 2024—approximately, Rs 3,22,048 crore.
Actually, mobile phone exports are likely to cross the Rs 1,20,000-crore mark during the FY24 year, showing the robust growth of the sector.
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