Electronics exports surpass $9 billion, and Tennessee stays at the top

In the fiscal year 2023–24, Tamil Nadu set a new high for electronics exports, bringing in $9.56 billion, or 32.8% of the country’s total. Karnataka and Uttar Pradesh came in second and third, respectively.

The Department of Commerce’s statistics indicate that Karnataka ranks second with $4.6 billion, or 15.78% of total exports, while Uttar Pradesh is now down to third place with $4.46 billion.

It’s interesting to note that the combined contribution of the two southern states to the nation’s electronics exports is close to 50%.

With $5.37 billion, the state topped the list last year (2022–2023). We exceeded the $9 billion objective that was projected a few months ago in addition to meeting it this year (2023–24),” said TRB Rajaa, minister of industry. We’re speeding toward yet another all-time year high and many more years ahead, since the electronics industry is just now starting to show off its potential, Rajaa said.

He continued by saying that the state government’s actions have fostered an atmosphere that is favorable to the expansion of enterprises. Tamil Nadu is leading the way, demonstrating how our policies and investments foster an environment that is conducive to strong economic development and high-caliber employment opportunities. The greatest was yet to come; this is only the beginning, he said.

“I’m hoping that the upcoming union government will help us even more and capitalize on each state’s strengths rather than denying important electronics value chain projects to states lacking an ecosystem,” the minister said.

India’s overall exports decreased by 3% in 2023–24 (FY24), while its electronics exports increased by 23.6% over the previous year to $29.12 billion.