NEW DELHI : New and emerging areas like electronics, renewable energy, IT hardware and electric vehicles will be the key for India to get to the target of $1 trillion in merchandise exports by 2030, Director General of Foreign Trade Shri Santosh Kumar Sarangi said.
“Our electronics exports are going up. Few years back our electronic exports were ranked 11-12 intotal hierarchy of exports. It has suddenly jumped to become the fifth highest exported commodity largely on account of Samsung and Apple phones being exported to other countries,” he said at an industry event.
India exported $10.9 billion worth of smartphones in FY 23. Prior smartphone exports were almost non-existent so they were not listed in the trade data as a separate product category. In April-August of this year smartphone exports are up 88.9% on year to $ 5.6 billion.