India’s Electronic Import touched a record of $56.6 billion in FY 19

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India’s electronic imports figure are changing and growing because of the huge demand for the smartphone in the entire world market. India is one of the most populated countries in the world have gradually more cell phone users than those whose population is lesser. The growing demand of Samsung, iPhone, Vivo, Oppo and OnePlus mobile phones have resulted as the most profitable items to import from China. The import from China to India has tremendously increased because of the growing electronic market of our country.

Electronic Imports: The bigger reason for import from China to India

 

Indian export market of electronic was ranged high when Tamilnadu was the hub of manufacturing Nokia mobile phones. The shutdown of the Nokia manufacturing plant at Tamilnadu in 2014 has largely damaged the Indian electronic export market. In FY 18, the Indian electronic imports were recorded $51.5 billion, with a hike of $5 billion in FY 19. This is the growth that we are steadily expecting from the Indian electronic import market in the coming years. The import from China to India will not be damaged by any external factors because the Indian market has a high demand and prospect of the cell phone market.

Figure 1 Electronics Trade

Source: http://bit.ly/2H25Q0p

Telecom imports, the most profitable items to import from China?

The telecom imports have drastically dropped 15% in FY 19 compared to the 17% rise in FY 18. The telecom instruments are made up of electronic components, computer hardware and peripherals. Mainly because of the Nokia plant closure, the telecom imports are crashed in the Indian market. Telecom imports are definitely not the most profitable items to import from China anymore for the Indian importers.

OPPO, the Chinese Cell phone Manufacturer brand is planning to establish a big manufacturing cluster in Greater Noida. The UP government has supported and approved the segment to produce 2 lakh product units per day with an overview to increase the import and export market of Indian electronics. This prominent industrial unit will help the keen Indian electronic exporters and manufacturers to make a great deal in the coming years. For more details on OPPO’s new manufacturing unit in India, please visit http://bit.ly/2H3U1Hc.

If you have an educational background in the IT or electronics field and are looking forward to starting your business in the electronic imports industry, please log on to www.impexperts.com for talking our EXIM experts. Kick-start your business in the EXIM industry and start earning profits.