Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi on Wednesday said that there has been an “exponential” jump in exports of electronics goods from India and that rising exports of mobile phones by companies like Samsung and Apple are helping boost the sector.
“The jump has been exponential and largely on account of Samsung and Apple phones being exported from our country,” Sarangi said at the India MSME Exports Summit 2023.
“So, there are certain sectors which are going to see rapid growth in exports and electronics, especially mobile phones and a lot of IT hardware…will become high export commodities in future,” he said, adding that the electronics goods sector has become the fifth highest exporting commodity from India now from 11th or 12th a few years back.
Electronic goods exports rose 27.7% to $15.5 billion during April-October this fiscal.
Sarangi said that sectors like electronics, value-added agri products, renewable energy items like wind and solar panels and modules, and electric vehicles would help in taking the country’s goods and services exports to $2 trillion by 2030.
Noting that the EV industry is also shaping up well, Sarangi said: “I can see that there is an enthusiasm among exporters to send more and more value-added products. So, in the coming years, it will be a major sector for exports”.
“Large companies like Tata and Mahindra are experimenting big on these vehicles, and exports from this segment will also rise in the coming years,” he said.
On vendor development programmes, he said these will help the MSME sector, which is key in pushing exports.
At present, 70 districts out of over 760 account for 80% of the country’s total outbound shipments and four states- Gujarat, Maharashtra, Karnataka and Tamil Nadu account for above 60% of the country’s exports. In 2022-23, the country’s exports of goods and services were $776 billion.