Electronics exports from India to the US jumped over two-fold year-on-year to $6.6 billion during January-September 2023, industry body ICEA has said.
India Cellular and Electronics Association Chairman Pankaj Mahindroo told that this is an all-time high electronics export from India, while the share of electronics imported from China into the US market has declined. "Recent data highlights a notable surge in India's electronics exports to the US, which increased by approximately 253 per cent to an estimated $6.6 billion in the current year (January-September), compared to an estimated $2.6 billion in the same period last year," Mohindroo said. According to data shared by ICEA, India's electronics exports to the US increased by more than 300 per cent from an estimated $1.3 billion in 2018 to an estimated USD 4.5 billion in 2022.
The bilateral electronics trade between India and the US has also seen an impressive rise of 84 per cent, with the current estimate standing at $9 billion during January-September 2023 from an estimated $4.9 billion in the same period preceding fiscal.
