 "mobile manufacturing, phone, electronics")
In the year-ago period review, electronics exports stood at the fourth spot.
“India’s prowess in electronics is powered by our innovative ‘Yuva Shakti’,” PM Modi said in a post on X (formerly Twitter), adding that the development is a testament to the ‘Make in India’ initiative. The initiative is the Centre’s effort to boost domestic manufacturing and support local businesses.
PM Modi was reacting to Railway Minister Ashwini Vaishnaw’s post about the development, which he shared citing Business Standard’s front page story in Monday’s edition.
This is indeed a matter of immense joy. India’s prowess in electronics is powered by our innovative Yuva Shakti. It is also a testament to our emphasis on reforms and boosting @makeinindia.India remains committed to continuing this momentum in the times to come. https://t.co/KFAzD8lseP
— Narendra Modi (@narendramodi) August 5, 2024
He noted that India is committed to maintaining this momentum ahead.
“Bharat’s electronics exports are now among the top 3! Making in India, shipping worldwide,” Vaishnaw said.
Iphones drive India’s electronics exports
On Monday, Business Standard reported that this progress in electronics exports is mainly driven by a surge in Apple iPhone exports from India.
Currently, only engineering goods and petroleum products rank higher than electronics.
In the year-ago period review, electronics stood at the fourth spot.
The data shared by the Department of Commerce showed that electronics exports reached $8.44 billion, a 22 per cent increase in Q1 FY25, compared to $6.94 billion in Q1 FY24.
India’s mobile exports stood at $4.8 billion
During Q1 FY25, mobile exports accounted for 57 per cent of the total exports, valued at $4.8 billion. Within this, iPhone exports reached $3.5 billion in Q1.
According to the official data, electronics was followed by gems and jewellery and pharmaceuticals in terms of exports.
In Q1 FY24, mobile phone exports stood at $3.72 billion, which means the latest quarter witnessed a 30 per cent jump in its exports. During the same period, iPhone exports saw an increase of $900 million. This means that they accounted for 82 per cent of the rise in mobile phone exports.
First Published: Aug 05 2024 | 2:29 PM IST
