Exports from India - statistics & facts
India is among the major fastest-growing economies in the world. Trade is a significant indicator of economic prowess due to the world’s concentrated and limited resources and evolving demands of people. It should be noted that India’s export market has long been a major contributor to its economy and has made it one of the leading exporters worldwide.
India exports a wide range of commodities globally. Of these, engineering goods and petroleum products anchor the major exporting goods. The primary categories of engineering goods include products such as iron and steel, non-ferrous metals, and industry machinery. While petroleum products like petrol, diesel, and fuel are exported mainly to the United States, China, and the Netherlands. Exports of gems and jewelry followed, as the country is renowned for its craftsmanship in this sector. Other commodities included among leading export goods are chemicals, pharmaceuticals, and textiles.
A year after banning wheat exports, the Indian government restricted the export of non-basmati white rice globally, despite being the second-largest rice producer, to keep prices in order and boost domestic rice supply. In addition to this, a 20 percent duty was imposed on the export of parboiled rice. However, the government is planning to lift the ban this year due to better rice cultivation and an abundance of rice stocks for the future.
Connecting countries through trade
India’s strong diplomatic ties with major countries around the world have allowed for profitable trade over the years. The leading country receiving the largest share of Indian exports was the United States, valued at about 58 billion U.S. dollars. Among the ASEAN countries, Indian exports to Singapore were the largest. Additionally, the Netherlands had the highest value of Indian exports among the European Union.India exports a wide range of commodities globally. Of these, engineering goods and petroleum products anchor the major exporting goods. The primary categories of engineering goods include products such as iron and steel, non-ferrous metals, and industry machinery. While petroleum products like petrol, diesel, and fuel are exported mainly to the United States, China, and the Netherlands. Exports of gems and jewelry followed, as the country is renowned for its craftsmanship in this sector. Other commodities included among leading export goods are chemicals, pharmaceuticals, and textiles.
Restriction on exports
The export growth of the country has been impacted by global economic uncertainties, climatic variations, and increasing shipment costs. Despite being the world’s third-largest wheat producer, India has imposed restrictions on wheat exports in global markets since May 2022. The restriction was imposed because of damage to wheat crops by strong heatwaves, as well as a danger to India's food security due to the Russia-Ukraine war, which resulted in a surge in wheat prices. However, as of 2024 the government has no plans to lift the export prohibition on wheat.A year after banning wheat exports, the Indian government restricted the export of non-basmati white rice globally, despite being the second-largest rice producer, to keep prices in order and boost domestic rice supply. In addition to this, a 20 percent duty was imposed on the export of parboiled rice. However, the government is planning to lift the ban this year due to better rice cultivation and an abundance of rice stocks for the future.
