India's Electronics Exports Surge by 45% in October

In October, electronics exports increased by 45 per cent to $3.4 billion compared to the $2.4 billion exported in the same month last year. Smartphone exports accounted for almost 55 percent of the overall electronics exports by October 2024. Apple played a significant role. Until October 2024, iPhone exports made up 66 percent of smartphone exports and 37 percent of electronics exports from India.

In October of the previous year, electronics was listed as the sixth biggest export, following engineering goods, petroleum products, gems and jewellery, pharmaceuticals, and organic and inorganic chemicals. As of October this year, it had risen three spots to claim the third position, trailing only engineering goods and petroleum products.

According to the Department of Commerce, electronics is India's fastest-growing export, ranking among the top five exports for seven months both monthly and cumulatively. It is not just gaining ground among India's top five exports, but also reducing the distance between electronic products and the second-ranked petroleum exports.

During the previous fiscal year, the value of electronic exports was under 33% of the value of petroleum exports, which reached $47 billion in the initial seven months. During 2024-25, electronics exports have almost equaled petroleum exports, which have generated $40.9 billion.