Tamil Nadu has secured the first position in terms of electronic goods exports in the financial year 2023-24 (FY24), surpassing Karnataka and Uttar Pradesh.
The state posted a 78 per cent increase in exports from $5.37 billion in 2022-23 to $9.56 billion in FY24. This accounts for around 33 per cent of the total exports of the country, surpassing a $9 billion target set by the state a few months ago.
One major reason for this is the ‘China Plus One’ strategy adopted by global majors like Apple. As a result, its contractors such as Foxconn and Pegatron, along with suppliers like Tata Electronics and Salcomp, have contributed to the rise of Tamil Nadu as the country’s electronic hub during FY24.
In FY24, Karnataka became the number two exporting state with $4.62 billion, contributing to 16 per cent of the national exports, followed by Uttar Pradesh with $4.46 billion worth of exports and 15 per cent of the national share. The other top states in the list are Maharashtra ($3.09 billion), Gujarat ($2.75 billion), Delhi ($1.51 billion), Haryana ($698.3 million), and Telangana ($610.62 million).
