In April, India experienced a significant increase in electronics exports, surging by more than 26% to reach $2.11 billion compared to the previous year. This growth was primarily driven by a substantial rise in mobile phone shipments, which totaled $1.08 billion, marking an impressive surge of over 80% compared to the previous year.
Apple and Samsung Lead Electronics Export Growth in April
Notably, major companies such as Apple from the United States contributed $750 million, while Samsung, a Korean giant, exported $240 million.
According to data from the commerce ministry, electronics ranked second in terms of growth rate among the top 11 out of 30 commodities that displayed growth in April compared to the same period last year.
Electronics Goods Surpass Readymade Garments as India’s Top Export
In a notable shift, electronics goods have surpassed readymade garments, which have long been a key export category for India.
This shift is primarily driven by the remarkable increase in mobile phone shipments. Electronics now rank as the sixth-largest item in the export basket.
Furthermore, it is important to highlight the significance of CHIMS Registration in this context.
CHIMS Registration is a crucial requirement for importers of electronics, ensuring compliance with regulatory standards and facilitating smooth international trade.
Under CHIMS, importers must register with the Directorate General of Foreign Trade (DGFT) and provide information about the electronic integrated circuits they are importing. This information includes the HS code, quantity, value, and intended use of the products.
Manufacturers of electronic & mobile devices must get CHIMS Registration in order to run their business smoothly and legally.
Moreover, If you want any other guidance relating to the Electronics Exports Skyrocket, please feel free to talk to our business advisors at 8881-069-069.
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