India's electronics exports fell by 3.5% in September

 India is now becoming a major electronics market hub. Over the years, electronics sales from India had seen rapid growth. The latest India import export data reports shows that around $48 billion worth of electronics items were exported by India this year. So far, Nepal is the leading exporter of electronics products  having over 95% share in the country's overall electronics exports. 

The United States is another important buyer of Indian electronics products with over 3% share. Whereas, other countries are Germany, Japan, Hong Kong, Singapore, China, Indonesia, United Kingdom and Poland. 

India customs data shows that Panasonic Life Solutions is the top electronics export company from India with over 74% share in FY 2023. Whereas Novateur Electrical, Komal Automation, Amphenol and Wipros enterprises are some of the top electronic products exporters from India. 

On analyzing month wise India export data reports, we conclude that India made the maximum amount of electronics exports during February 2023. The total value was estimated to be around $4.4 billion in February 2023. India’s electronics sector has done significantly well during all months of FY 2023.

But during the September month, India’s electronics exports saw a slight dip of 3.5%. During September 2023, India’s electronics exports totaled to be $2 billion as compared to $1.8 billion in the previous month. The forecasts for India’s electronics exports are quite positive for the next few months. India could make record electronics exports by the end of this year.

In 2022, India’s electronics exports were estimated to be $26 billion with over 48% increase annually. In terms of imports, India imported around $46 billion worth of electronics products last year. These imports mostly came from Japan and China. India import data shows that Japan was the leading exporter of electronics $16 billion during 2022.

Japan is then followed by China, South Korea, Germany, Singapore, United States, Thailand, France and South Korea in terms of electronics exports to India. So far, India’s electronics imports have reached over $16 billion in FY 2023. China was the top importer of electronics having over 36% share in India’s overall electronics imports during FY 2023. 

The top electronics suppliers to India were Schneider Electric Industries, Siemens, Zheijiang Zhonghuan Sunter, Cheng Uei Precision Industry and Sheng Ming Trading. 

The major imports and exports include electronics, electrical items like mobile phones, industrial items. As India's electronics export market is fast approaching, companies can now extend their business to the international market with data based intelligence. So far, Tamil Nadu is the top contributor to India's electronics export this year. The financial report shows that Tamil Nadu has exported over $5 billion worth of electronics products in FY 2023. 

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