The Hindu : EU major market for hardware exports

Online edition of India's National Newspaper
Tuesday, Jul 15, 2003

Business

Business

EU major market for hardware exports

By Our Special Correspondent

NEW DELHI JULY 14. Countries in the European Union have become the major destination for India's electronic hardware exports accounting for 26.21 per cent of the total exports in 2002-03.

According to provisional data released by the Electronics and Computer Software Export Promotion Council (ESC), the second largest destination for export of Indian electronic hardware was Singapore, Hong Kong and other South Asian countries in 2002-03.

In a statement issued here today, the ESC executive Director, D. K. Sareen, said in value terms, India's exports of electronics hardware to EU are estimated to have gone up by 26.20 per cent in rupee terms (24.38 per cent in dollar terms) in 2002-03 as against the previous year. In absolute terms, electronics hardware exports have picked up from Rs. 1,246 crores ($261 million) in 2001-02 to Rs. 1,573 crores ($325 million) in 2002-03, he said.

Singapore, Hong Kong and other Southeast Asian countries had recorded the highest exports in the previous year. In absolute value terms, exports for 2002-03 were Rs.1,530 crores ($316 million), lower than the previous year's figure of Rs. 2,124 crores ($445 million), he said.

North America, comprising the U.S. and Canada, was the third largest export destination. Exports to this region were up by 15 per cent in rupee terms (13 per cent in dollar terms) in 2002-03 as compared to the previous year.

Close on the heels of North America, came the Middle East region, which attracted exports to the tune of Rs. 681 crores in 2002-03 compared to Rs. 450 crores in the previous year, the ESC said. Exports to middle east registered a growth of 46 per cent in value terms.

Japan, South Korea and Far East countries with export turnover of Rs. 437 crores ($90 million) bagged the fifth

slot in hardware exports during this period. Other important destinations for hardware exports were African countries, Australia, non-EU countries, Russia and CIS countries and Latin America.

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