India's Electronics Boom: Export Surge to a New Record

India's electronics exports soared by 35.11% to USD 3.58 billion in December 2024, achieving a 24-month high. The growth is propelled by supportive government policies and escalating global demand. Engineering and pharmaceutical sectors also show positive export growth. The overall quarterly exports have reached new record highs.

India's electronics exports have reached a remarkable milestone, surging by 35.11% to USD 3.58 billion in December 2024, according to the latest data from the commerce ministry. This marks the highest level of shipments in the last 24 months, reflecting the robust dynamism within the country's electronics manufacturing sector.

Commerce Secretary Sunil Barthwal highlighted the consistent growth in the exports of engineering and electronics, attributing the rise to favorable government policies and a robust demand in global markets. He noted, "In December 2024, electronic goods exports have been the highest so far, marking significant progress in this arena."

In addition to electronics, India's engineering and pharmaceutical exports have also recorded growth since January. The engineering sector, which constitutes around 25% of total outbound shipments, saw exports increase by 8.35% to USD 84 billion. Quarterly figures reveal a consistent upward trend in India's export performance.

(With inputs from agencies.)