Electronics, electrical industry should aim for Rs. 8,68,700 crore (US$ 100 billion) exports: Union Minister of Commerce & Industry, Mr. Piyush Goyal

India’s electronics and electrical industry aims to increase exports to Rs. 8,68,700 crore (US$ 100 billion) over the next five to seven years, according to the Union Minister of Commerce & Industry, Mr. Piyush Goyal. The sector has seen remarkable growth, with electronic goods exports rising from the 167th position globally in 2015 to the second-largest category in India. In January 2024 alone, exports reached Rs. 26,061 crore (US$ 3 billion). Speaking at the 16th Edition of ELECRAMA, organized by the Indian Electrical and Electronics Manufacturer’s Association (IEEMA), he emphasized the need for resilient supply chains, upgraded quality standards, and globally competitive pricing. He urged industry leaders to collaborate to enhance India’s manufacturing sector and ensure better consumer deals. Stressing the need to move beyond protectionism, he highlighted that excessive trade restrictions can ultimately harm consumers. Instead, he called for a balanced approach that supports Micro, Small, and Medium Enterprises (MSMEs) and customer interests, ensuring sustainable industry growth while maintaining affordability and global competitiveness.