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Abu Dhabi: The United Arab Emirates (UAE) have become the second-largest destination for India’s electronic goods during the first nine months of the 2021 fiscal year, according to a senior official with Electronics and Computer Software Export Promotion (ESC).
India’s Commerce and Industry Ministry said the country’s electronic goods exports grew 49 per cent during April-December 2021 period to $11 billion as compared to $7.4 billion during the same period last year, with the US and the UAE being the top two destinations.
The top five export countries were the US with an 18 per cent share followed by the UAE at 16.6 per cent ($1.83 billion; Dh6.7 billion), China at 7.6 per cent, the Netherlands at 4.5 per cent, and Germany 4.2 per cent, respectively.
The electronic goods sector includes IT hardware (laptops, tablets), consumer electronics (TV and audio), industrial electronics, auto electronics, electronic components, LED lighting, wearables, and telecom equipment.
“It’s a proud moment that the UAE ranked second after the United States as India’s top export market with nearly 17 per cent share. I believe India is set to break record highs in the 2021 fiscal year for electronic goods exports,” Khaleej Times quoted Kamal Vachani, regional director of ESC.
In December 2021, India’s exports of electronic goods reached $1.67 billion, which recorded a growth of 33.99 per cent compared to $1.25 billion in December 2020.
This post was last modified on February 2, 2022 8:23 pm