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Electronic goods exports up by 49% on-year in April-Dec 2021

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Electronic goods exports up by 49% on-year in April-Dec 2021

India’s electronics exports rose 49 percent to $11 billion in the April-December 2021 period, compared with $7.4 billion in the same period in 2020, the Ministry of Commerce and Industry said in a statement.

The top five export destinations for April-November 2021 are the US (18%), the UAE (16.6%), China (7.6%), the Netherlands (4.5%) and Germany (4.2%).

Meanwhile, electronics exports reached $1.67 billion in December 2021, up 33.99 percent, surpassing December 2020’s $1.25 billion.

Electronics exports totaled $11.11 billion in FY21.

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“The industry’s $11 billion in exports in the first three quarters of FY22 will break an all-time high and far exceed the previous high of $11.7 billion set in FY20,” the ministry added.

The electronics segment includes IT hardware (laptops, tablets), consumer electronics (TV and audio), industrial electronics, automotive electronics, electronic components, LED lighting, wearable and hearable devices, and telecommunications equipment. Mobile phones are a major part of India’s electronics exports.

The Ministry of Electronics and Information Technology (MeitY) has recently published the second volume of a 5-year roadmap and vision document for the electronics industry; the first volume will be released in November 2021.

The document lays out a “roadmap to transform India from its current US$75 billion to a US$300 billion electronics manufacturing powerhouse over the next 5 years. This will place electronics among the top 2-3 Indian exports by 2026”.

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According to the vision document, electronics exports are expected to increase from $15 billion in 2021-22 to $120 billion in 2026.

Complete News Source : Business Standard

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.

Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.

Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.

Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.

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The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.

BCCI’s tribute

Additionally, the BCCI issued a statement about his demise.

“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.

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His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.

Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.

Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.

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