Electronic goods export is likely to grow by 36.8 per cent to cross `1.6 lakh crore in the current fiscal, with mobile phone export accounting for nearly half of the total pie, industry body ICEA said on Tuesday.
The electronic goods export in 2021-22 was `1,16,937 crore, according to India Cellular and Electronics Association (ICEA).
“In financial year (FY) 2021-22, India exported `1,16,937 crore worth of electronic goods and is estimated to export more than `1,60,000 crore in FY 2022-23. The mobile phone exports in FY 2021-22 were `45,000 crore, and is estimated to reach more than `75,000 crore in FY 2022-23,” ICEA said in a note.
According to the industry body, the total exports of electronic goods from India from April to December 2022 grew to `1,33,313 crore against `81,780 crore in 2021.
The growth in electronic goods exports is primarily led by mobile phone exports, which are estimated to have increased over `60,000 crore in April-December 2022 from `27,288 crore in the same period a year ago.
“The growth in mobile phone exports during April-December 2022 is as per plan and we are confident that we are on course to achieve USD 9-10 billion exports in FY 2022-23,” ICEA Chairman Pankaj Mohindroo said.
The top exporting destinations for mobile phones from India during April-December 2022 include UAE, United States, Netherlands, United Kingdom and Italy, ICEA
said.