Santosh Kumar Sarangi, Director General of Foreign Trade (DGFT), reported a “exponential” increase in India’s exports of electronics.
Surging exports of smartphones from firms such as Apple and Samsung are supporting the growth of the electronic goods industry, according to a top government official. Santosh Kumar Sarangi, Director General of Foreign Trade (DGFT), reported a “exponential” increase in India’s exports of electronics.
He went on to say that industries including electronics, value-added agricultural products, solar panels and modules, and electric vehicles would contribute to the nation’s goods and services exports reaching $2 trillion by 2030.
“It appears that exporters are eager to send a growing number of products with added value. Thus, it will be a significant export market in the years to come, according to Sarangi, who also mentioned how well the EV market is developing. He pointed out that major automakers like Tata and Mahindra are conducting extensive testing on these cars, and that exports from this market will increase in the upcoming years.
The MSME sector, which is essential for boosting exports, will benefit from the DGFT’s emphasis on vendor development programmes. “We need to work on this (vendor development programmes),” he stated. According to Sarangi, the government is attempting to meet the export goal by implementing a number of programmes, facilitating business transactions, encouraging automation, and encouraging the growth of domestic manufacturing.
“Parallelly, we are working on sectoral level also,” he stated, adding that India has signed free trade agreements with nations like the United Arab Emirates and Australia and is negotiating with the United Kingdom and the European Union to expand market access to labor-intensive industries like textiles and leather. There are a tonne of opportunities to boost exports from various districts because, currently, 80 percent of the nation’s total outbound shipments come from just 70 out of over 760 districts.
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