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Electronics Exports From Tamil Nadu Hits $9 Billion in FY24

Updated: Apr 19, 2024 04:55:45pm

Electronics Exports From Tamil Nadu Hits $9 Billion in FY24

Tamil Nadu, Apr 19 (KNN) Tamil Nadu has cemented its position as India's top electronics exporting state, achieving a record-breaking USD 9.56 billion in electronics exports for the fiscal year 2023-24.

This represents a staggering 78 pe rcent growth compared to the previous year's exports of USD 5.37 billion.

The entry of major players like Tata Electronics and Pegatron, which started production in recent years, contributed significantly to Tamil Nadu's outstanding performance.

The state now hosts over 15 leading electronics manufacturers, including heavyweights such as Foxconn, Tata Electronics, Salcomp, and Pegatron.

According to data from the Government of India, Tamil Nadu accounted for a 32.84 per cent share of the country's total electronics exports of USD 29.12 billion. Karnataka came in a distant second with USD 4.60 billion (15.78 per cent share), followed by Uttar Pradesh at USD 4.46 billion (15.32 per cent).

Tamil Nadu Industries Minister TRB Rajaa expressed delight at surpassing the USD 9 billion export target estimated a few months ago.

"With the electronics sector just beginning to flex its capabilities, we're racing towards another all-time high next year, and many years to come," he said.

Rajaa also called upon the new Union government to enable further growth and leverage the strengths of each state, rather than diverting key projects in the electronics value chain to states lacking an established ecosystem.

India's electronics exports were dominated by the NAFTA region (US, Mexico, and Canada), which imported USD 11 billion worth of goods.

Europe followed with USD 9 billion, while the WANA region (West Asia and North Africa) accounted for USD 4 billion in imports.

(KNN Bureau)


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