NEW DELHI, Nov 22: Increasing exports of mobile phones by companies like Samsung and Apple are helping boost the electronic goods sector, a senior government official said.
Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said there has been an “exponential” jump in exports of electronics goods from India.
From 11th or 12th a few years back, the sector is the fifth highest exporting commodity from India now, he added.
“The jump has been exponential and largely on account of Samsung and Apple phones being exported from our country. 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 here at a function on MSME exports.
Electronic goods exports rose by 27.7 per cent to USD 15.5 billion during April-October this fiscal.
The sectors like electronics, value-added agri products, renewable energy items like solar panels and modules, and electric vehicles would help in taking the country’s goods and services exports to USD 2 trillion by 2030, he added.
“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,” Sarangi said, adding that the EV industry is also shaping up well.
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 noted.
The DGFT’s emphasis on vendor development programmes will help the MSME sector, which is key in pushing exports. “We need to work on this (vendor development programmes),” he said.
The government is working to achieve the export target through different schemes, improving ease of doing business, promoting automation, and steps to boost domestic manufacturing, Sarangi noted.
“Parallelly, we are working on sectoral level also,” he said, adding that to provide greater market access to labour-intensive sectors like textiles and leather, India has inked free trade agreements with countries, including UAE and Australia, and is in negotiations with the UK, and European Union.
Huge opportunities are there to increase exports from different districts, as at present, 70 districts out of over 760 account for 80 per cent of the country’s total outbound shipments.
In 2022-23, the country’s exports of goods and services stood at USD 776 billion. (PTI)
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