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India's Electronics Exports to US Surge to $8.7 Billion in FY24: Economic Survey

July 25, 2024 2 min read
author Anamika Mishra, Sub Editor
The Economic Survey 2023–24 stated on July 22 that India's electronics exports to the US had changed from a trade deficit of $0.6 billion in FY17 to a trade surplus of $8.7 billion in FY24, highlighting a notable growth in value addition by the nation in the global electronics supply chain. Mobile phones are the category in the electronics sector that has grown the fastest, with exports to the US increasing from $2.2 billion in FY23 to $5.7 billion in FY24. "India will examine the achievements and approaches of East Asian countries as it seeks to increase its participation in Global Value Chains (GVCs). Historically, these economies have focused primarily on two

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