India engineers new export miracle that can beat oil
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For decades, India’s export engine has been powered by oil and petroleum products. Now, electronics is moving in fast, and could soon take its place as the second-largest export category.According to data from the Ministry of Commerce & Industry, in the first six months of FY26 electronics exports surged 42% to about $22.2 billion from $15.6 billion a year earlier, the fastest-growing among the top 30 export categories.By contrast, petroleum product exports fell 16.4% to $30.6 billion from $36.6 billion. Engineering products led overall exports at $59.3 billion (up 5.3%) in the same period. The gap between electronics and petroleum is shrinking, and if the pace holds, electronics could take second place after engineering within a few years.Live EventsWhat this really means is: India’s export DNA is shifting.Also read: iPhone boom powers India’s electronics exports to record highs, set to overtake petroleumThe triggerThis shift didn’t happen overnight. It started in 20...