India's electronics exports touched 2-year high of $3.6B this December
What's the story
India's electronics exports surged 35.11% to $3.58 billion in December 2024, reaching the highest level of shipments in two years, according to Commerce Ministry data. This stellar performance highlights the increasing momentum in India's electronics manufacturing sector. The growth is driven by favorable government policies, rising global demand, and expanding domestic production capacities.
Official statement
Commerce Secretary highlights consistent growth in exports
Commerce Secretary Sunil Barthwal highlighted the steady growth in engineering and electronics exports. "In December 2024, electronic goods exports have been highest so far. In the last 24 months, it was highest at $3.58 billion in one month," he said. The data also indicated healthy growth rates for electronic goods exports since January that year, with October and November witnessing shipments worth $3.43 billion and $3.47 billion respectively.
Sector performance
Engineering and pharmaceutical sectors see growth
India's engineering and pharmaceutical exports have also been on the rise. The former, which constitutes around 25% of the country's total outbound shipments, rose by 8.35% to $84 billion. Meanwhile, pharmaceutical exports witnessed a slight 0.63% increase to $2.49 billion last month. This data further emphasizes the overall positive trend in India's export sectors.
Export records
Quarterly exports register new record high
The Commerce Ministry disclosed that the country's quarterly exports have been on a steady rise and set a "new record high." In the April-June, July-August, and October-December of 2024-25, shipments stood at $198.5 billion, $196.1 billion, and $208 billion respectively. This is an increase from the previous year's $184.5 billion, $190.5 billion, and $193.4 billion in the same periods.