India’s electronics industry witnessed a big surge in exports during the fiscal year 2022-23, as reported by the Electronics and Computer Software Export Promotion Council (ESC).
The sector experienced a growth rate of over 50.25 per cent compared to the previous year, culminating in exports totaling USD 23.58 billion. This surge in exports was attributed to various factors, including increased shipments of smartphones and photovoltaic cells.
India’s production output in the electronic hardware segment also reached new heights, estimated at USD 87 billion.
US Top Electronics Importer
Mirroring the pattern observed in software exports (including IT, BPO, and ITeS), the United States has emerged as the primary destination for electronic hardware exports from India. Accounting for 26.32 per cent of the total export value, this translates to USD 6.21 billion.
Following the US, the United Arab Emirates (UAE) secured the second position with 14.45 per cent of exports, totaling USD 3.41 billion. The Netherlands, the UK, Germany, Italy and Austria also feature prominently as key destinations for India’s electronic hardware exports, each contributing significantly to the industry’s global reach and impact.
Tamil Nadu emerged as the leader in state-wise exports of electronics goods, followed closely by Uttar Pradesh.
