The parliament was informed that the export of indigenous electronic goods surged about 42 per cent to nearly Rs 1.17 trillion in the fiscal year 2021-22. Providing further details, Rajeev Chandrasekhar, Minister of state for electronics and IT, informed that the export of electronic goods has substantially increased in the period 2017-18 to 2021-22 with a compound annual growth rate of 29 per cent whereas the production has grown with a compound annual growth rate of 17.9 per cent.
As per the data shared by the government in parliament, India’s electronics export was Rs 818.22 billion in 2020-21, which surged to Rs 1.17 trillion in 2021-22. Meanwhile, the electronics production in the country grew from Rs 5.34 trillion in 2019-20 to Rs 5.54 trillion in 2020-21 .
The ministry has also approved 314 applicants worth Rs 869.12 billion of investments and committed incentives of Rs 95.44 billion till date. Out of 314 units approved, 271 units have invested Rs 314.16 billion and 233 units have started production, while incentives amounting to Rs 17.81 billion have been disbursed, the minister asserted.