Electronics export may grow by 37% to cross Rs 1.6 trn this fiscal: ICEA

Electronic goods export is likely to grow by 36.8 per cent to cross Rs 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 Rs 1,16,937 crore, according to India Cellular and Electronics Association (ICEA).

"In financial year (FY) 2021-22, India exported Rs 1,16,937 crore worth of electronic goods and is estimated to export more than Rs 1,60,000 crore in FY 2022-23. The mobile phone exports in FY 2021-22 were Rs 45,000 crore, and is estimated to reach more than Rs 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 Rs 1,33,313 crore against Rs 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 Rs 60,000 crore in April-December 2022 from Rs 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.