Tamil Nadu contributes to 32% of India’s total electronics exports till Jan

Tamil Nadu has continued to consolidate its position as India’s leading exporter of electronic products with its value touching $7.37 billion, a whopping 32.52 per cent of India’s total export of electronic system design and manufacturing (ESDM) goods of $22.65 billion, from April to January during the current financial year (FY24).

According to industry experts, one of the major reasons for the rise in exports is the China-Plus-One strategy of global majors like Apple, following which its contractors like Foxconn and Pegatron and suppliers like Salcomp added to the rise of Tamil Nadu as the country’s electronic hub last year. Coined in 2013, China-Plus-One is a global business strategy in which companies avoid investing only in China and diversify their businesses to alternative destinations.