More than half a percentage of India’s total export in FY23 was merchandise exports, followed by services exports. However, it used to be mostly services 10-15 years ago, said Electronics and Information Technology Minister Ashwini Vaishnaw while highlighting the success of Make in India. He also called the boost to export due to manufacturing a major achievement for the country.
After the launch of Make in India, every sector is seeing good manufacturing growth, claimed Ashwini Vaishnaw. He also highlighted how a boost in the manufacturing sector has led to diversification in the contributors of India’s exports.
“There is about 11 billion dollars worth of electrical machinery & equipment exports, about 11 billion dollars worth of mobile phones export. This growth is rising. This year too, 50 billion dollars of mobile phones’ manufacturing has been done and the export is worth about 15 billion dollars,” he added.
He also mentioned how India, once a prime importer of toys, is now exporting them to different countries. With efforts made under Make-in-India, India is moving towards exports in all sectors.
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
Related Premium Stories
Published: 07 Dec 2023, 04:25 PM IST