Exports – Daily India News

Electronic Goods Exports Jumped 104%, Production Rose 75% Between 2016-17 And 2020-21

Sehrish Fuzel — Thu, 28 Apr 2022 16:31:46 +0000

Even as the government has introduced various production linked incentive (PLI) schemes for promoting and incentivising local manufacturing of electronic goods and IT hardware since April 2020, there has been robust growth in production as well as exports of these products in the past five years.

According to official figures of the Ministry of Electronics and IT, between 2016-17 and 2020-21 there has been an astounding 104 per cent growth in export of electronic goods. Also manufacturing of these goods during the same period, has witnessed a growth of 74.7 per cent.

In 2016-17, India exported electronic goods worth ₹ 39,980 crore, which rose by 104 per cent to ₹ 81,948 crore in 2020-21.

Similarly, in 2016-17, India produced electronic products worth ₹ 3,17,331 crore, which in 2020-21 rose to ₹ 5,54,461 crore, a jump of 74.4 per cent.

Government on April 1, 2020, just days after the nation-wide lockdown was imposed to curb Coronavirus related infections, had introduced a PLI scheme for large scale electronics manufacturing.

Under this scheme, an incentive of 6 per cent to 4 per cent is given to eligible companies on incremental sales (over base year) of goods under targeted segments like mobile phones and specified electronic components that are manufactured in India, for a period of five years subsequent to the base year which is 2019-20.

Till date, 32 companies have been approved under this scheme, official sources said.

Till date, 14 companies have been approved under this scheme.

These schemes were launched under government’s Atma Nirbhar Bharat policy, aiming to make India a significant design and manufacturing hub for electronic goods.

A big hike in the Chemical Exports with $29.3 billion in 2021-22.

Sehrish Fuzel — Thu, 28 Apr 2022 02:56:18 +0000

Chemicals exports have touched $29.3 billion in 2021-22 on account of healthy performance in areas like agrochemicals, dyes and speciality chemicals, the commerce ministry said on Wednesday.

India is the sixth-largest producer of chemicals in the world, third in Asia and 14th in exports.

“Today, India leads in dyes production and contributes 16-18 per cent to the world’s dyestuff exports. Indian dye is exported to over 90 countries,” the ministry said in a statement.

“This export growth has been achieved in spite of unprecedented logistical challenges like high freight rates, container shortages, etc. The increase in chemical products exports has benefitted small and medium exporters from Gujarat, Maharashtra, Karnataka, Tamil Nadu and Andhra Pradesh,” it noted.

Over the years, the industry has been modernising through new molecules, innovations in technology, product profile, and focus on quality, it said.

India’s passenger vehicles exports rose 43% in 2021-22, led by Maruti

Sehrish Fuzel — Mon, 18 Apr 2022 10:30:51 +0000

Passenger vehicle exports from India increased 43 per cent in 2021-22, with Maruti Suzuki India leading the segment with dispatches of over 2.3 lakh units, according to the latest data by industry body Society of Indian Automobile Manufacturers (SIAM).

The total passenger vehicle (PV) exports stood at 5,77,875 units in 2021-22 fiscal, as compared to 4,04,397 units in 2020-21.

Passenger car shipments saw 42 per cent growth at 3,74,986 units, while utility vehicle exports rose 46 per cent at 2,01,036 units during the last fiscal, the SIAM data indicated.

Exports of vans increased to 1,853 units in 2021-22 fiscal, from 1,648 units in the 2020-21 fiscal year.

Maruti Suzuki India led the vertical last fiscal, followed by Hyundai Motor India and Kia India at second and third positions, respectively.