From engineering goods to cereals: India’s exports surge 67% in a decade, led by these top 10 products

READ | Top 10 countries India exporting merchandise to in 2024: US, UAE, and more

In 2024, India’s exports from April to December alone totalled around $602 billion. The Ministry of Commerce and Industry recently reported that total exports in 2023–2024 topped $778 billion, nearly 67 per cent higher than the $466 billion recorded a decade earlier. This increase is mostly attributable to the growth of technology-led businesses and a strong industrial foundation.

Merchandise exports were worth $437 billion, fuelled by higher output and stronger demand for electronics, engineering products, and textiles. Service exports contributed another $341 billion, led by information technology, business, and financial services.

The pharmaceutical industry has grown steadily in India, the third-largest manufacturer of medicines in the world, with export values rising from $15.07 billion in 2013–14 to around $28 billion in 2023–24. In the same time frame, agricultural shipments have more than doubled, rising from slightly over $22 billion to $48 billion.

India’s agricultural export growth (Source: PIB)

India’s pharmaceutical exports surge (Source: PIB)

This consistent upward trend highlights India’s growing significance in international trade and paves the way for determining its most lucrative export markets.

The United States was India’s biggest market in 2023–2024, accounting for more than 18 per cent of all merchandise exports from the country. The UAE, the Netherlands, China, and Singapore came in close behind the UK, Saudi Arabia, Bangladesh, Germany, and Italy, which made up the top 10. Fifty-one per cent of India’s entire export revenue came from these markets combined.

Top 10 products exported from India