The Brief Insights of the India’s Export Market

The tricolored nation India mostly famous for its religious and ethnic beliefs has now been leading as one of the top export trade destinations because of the growing demands. The increasing production capability of the industrial sectors in correspondence with global demands has been recording a pivotal growth of the overall GDP value. India Import Data says the thriving rank of the economy can be attributed to different factors like increasing tourism rate, development of the infrastructure, transitions of the trade agreements, and the strategic location serving as a gateway to other leading trade destination estates.

In accordance with the globally increasing demands, and the simultaneous evolution of the techniques used in the production units have recorded an annual export trade value of 621 billion US dollars in 2023. Import Globals with its India Trade Data showcases the leading global trade insights of the regional shipments for helping the business holders adapt to the latest techniques of optimization as per the global trade.

THE LEADING EXPORTS OF INDIA IN 2023

As per the India Export Data, the top 10 leading exports of the nation facilitating the overall annual revenue in 2023 are,

  • Petroleum products (HS code — 27) — Total export trade value of Petroleum products in 2023–86 billion US dollars
  • Gems and Jewelry (HS code — 71) — Total export trade value of Gems and Jewelry in 2023–38 billion US dollars
  • Pharmaceuticals (HS code — 29) — Total export trade value of Pharmaceuticals in 2023–22 billion US dollars
  • Organic chemicals (HS code — 29) — Total export trade value of Organic chemicals in 2023–14 billion US dollars
  • Vehicles (HS code — 87) — Total export trade value of Vehicles in 2023–13 billion US dollars
  • Machinery (HS code — 84) — Total export trade value of Machinery in 2023–12 billion US dollars
  • Iron and steel (HS code — 72) — Total export trade value of Iron and steel in 2023–10 billion US dollars
  • Cotton (HS code — 62) — Total export trade value of Cotton in 2023–8 billion US dollars
  • Electronic equipment (HS code — 85) — Total export trade value of Electronic equipment in 2023–6 billion US dollars
  • Organic vegetables and fruits (HS code — 52) — Total export trade value of Organic vegetables and fruits in 2023–5 billion US dollars

THE LEADING EXPORT PARTNERS OF INDIA IN 2023

The India Shipment Data shows the below-mentioned countries as the top facilitating partners after the growing export diversification of the nation in 2023,

  • United States — The total valuation of goods exported from India to the United States — 70 billion US dollars

THE TOP EXPORTED VARIANTS

i. Crude petroleum

ii. Refined petroleum products

iii. Natural gas

iv. Coal

v. Lubricants

  • China — The total valuation of goods exported from India to China — 58 billion US dollars

THE TOP EXPORTED VARIANTS

i. Bituminous substances

ii. Mineral waxes

iii. Petroleum jelly

iv. Paraffin wax

v. Petroleum coke

  • United Arab Emirates — The total valuation of goods exported from India to the United Arab Emirates — 48 billion US dollars

THE TOP EXPORTED VARIANTS

i. Cut and polished diamonds

ii. Silver Jewelry

iii. Platinum jewelry

iv. Precious gemstones

v. Semi-precious gemstones

  • Hong Kong — The total valuation of goods exported from India to Hong Kong — 33 billion US dollars

THE TOP EXPORTED VARIANTS

i. Pearls

ii. Gold coins

iii. Silverware

iv. Imitation jewelry

v. Telecommunication equipment

  • Singapore — The total valuation of goods exported from India to Singapore– 23 billion US dollars

THE TOP EXPORTED VARIANTS

i. Electric transformers

ii. Electric motors

iii. Batteries

iv. Wiring harnesses

v. Printed circuit boards

  • Netherlands — The total valuation of goods exported from India to the Netherlands — 20 billion US dollars

THE TOP EXPORTED VARIANTS

i. Semiconductors

ii. Solar panels

iii. LED lighting

iv. Home appliances

v. Industrial machinery

  • Bangladesh — The total valuation of goods exported from India to Bangladesh– 18 billion US dollars

THE TOP EXPORTED VARIANTS

i. Agricultural machinery

ii. Textile machinery

iii. Construction Equipment

iv. Printing machinery

v. Food processing machinery

  • United Kingdom — The total valuation of goods exported from India to the United Kingdom– 17 billion US dollars

THE TOP EXPORTED VARIANTS

i. Packaging machinery

ii. Pumps and compressors

iii. Air conditioning units

iv. Refrigeration equipment

v. Generic medicines

  • Germany — The total valuation of goods exported from India to Germany– 16 billion US dollars

THE TOP EXPORTED VARIANTS

i. Active pharmaceutical ingredients (APIs)

ii. Vaccines

iii. Over-the-counter drugs

iv. Herbal medicines

v. Nutraceuticals

  • Japan — The total valuation of goods exported from India to Japan– 15 billion US dollars

THE TOP EXPORTED VARIANTS

i. Medical devices

ii. Diagnostic kits

iii. Biotechnology products

iv. Ayurvedic products

v. Passenger cars

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