CHENNAI: Tamil Nadu achieved a record-breaking $9.56 billion in electronics exports in the financial year 2023-24, which is 32.8% of total electronics exports nationally, followed by Karnataka and Uttar Pradesh.
According to the data available from the department of commerce, Karnataka is second with $4.6 billion (15.78% of total exports) and Uttar Pradesh has been relegated to the third spot with $4.46 billion.
Interestingly, the data means that the two southern states together contribute to nearly 50% of electronics exports form the country.
“Last year (2022-23), the state clocked $5.37 billion and rose to the top. This year (2023-24), we not only met the $9 billion target, estimated a few months ago, we also surpassed it,” said industries minister TRB Rajaa. “With the electronics sector just beginning to flex its capabilities, we’re racing towards another all-time-year high, and many more years to come,” Rajaa said.
He added that the policies of the state government have created an environment conducive for the growth of industries. “Tamil Nadu is setting the pace, proving that our strategies and investments create a fertile ground for high-quality job opportunities and robust economic growth. This is just the beginning, and the best is yet to come,” he said.
“Hoping the new union government will enable us even further and play to the strengths of each state, instead of taking away key projects in the electronics value chain to states which have no ecosystem,” the minister added.
India exported electronics goods worth $29.12 billion in 2023-24 (FY24), up by 23.6% compared to the previous year, even as the country’s total exports contracted by 3%.