In continuation of the double-digit export growth seen in February 2017, March 2017 saw significant growth at USD 29.232.05 million, compared to USD 22,911.74 million during March 2016.
For the period April to March 2016-17, the cumulative export value was USD 2,74,645.10 millions (Rs 18,41.314.39 crore), compared with USD 2,62,290.11million (Rs 17,16.377.99 crore). This represents a positive growth rate of 4.71 per cent and 7.28 per cent respectively in Rupee terms. India’s GDP is 4% due to exports.
India received foreign currency in the form of 10 commodities, which were exported the most.
Here are the 10 commodities most exported from India and their dollar value:
01. Petroleum products
Value – 61.2 billion dollars
The export sector of India has been greatly aided by oil-based products and giant crude oil companies like Hindustan Petroleum Corporation Limited (Bharat Petroleum), Reliance Petroleum and ONGC. Although India is heavily dependent on oil imports for its economy, exports of oil-based products have helped it to a great extent.
02. Jewellery
Value – 41.2 billion dollars
Jewellery can be defined as gold, gemstones, and other similar materials. India accounts for around 20% of global gold production. 75% of this amount is used to make jewellery. Banks and government policies support the jewellery industry so that it does not decline. Only 30% of Indian jewellery is exported to the United States. These countries include Hong Kong and Singapore, the UAE, Singapore, and Belgium.
03. Automobile
From 2008 to 2013, the Indian automobile export sector has seen a rise of 17 per cent, one of the fastest economic growths that have ever taken place in the sector. Being one of the leading steel producers in the world, India invests largely in the automobile sector and its export.
04. Machinery
Value – 13.6 billion dollars
There has been a 10.5 per cent increase in the export of heavy machinery from India. These include cars, pumps, heavy machines, building construction tools, agricultural equipment and so on.
05. Bio-chemicals
Value – 12 billion dollars
Manufacturing bio-chemicals is a nationwide business in India. The sector contributes hugely to the national economy and is an essential part of it. Manufacturers and exporters are spread all over the country. Research facilities have also supported this sector to a large extent.
06. Pharmaceuticals
Value – 11.7 billion dollars
Being a research-based industry, the pharmaceuticals sector in India has seen huge growth over the past few decades. Major pharma industries such as J. B. Chemicals and Pharmaceuticals Limited, Suven Life Sciences Limited, Dr Reddy’s Laboratories, Aurobindo Pharma, Lupin, Ranbaxy, Sun Pharma, Zydus Cadila, Glowchem and Calyx play a huge role in promoting the sector to the world market.
07. Cereals
Value – 10.1 billion dollars
India is one of the leading exporters of cereals and the second-largest producer of rice. Being an agriculture-driven country, India depends largely on its production of cereals and so do the importer countries such as Iran, Saudi Arabia, Indonesia, UAE and Bangladesh.
08. Iron and steel
Value – 9 billion dollars
Before Independence, India used to depend on its import of iron and steel. But now, the country has gone through such an industrial growth that it has become the fourth-largest steel producer in the world. Steel tycoons such as TISCO, IISCO, Bhilai Iron and Steel Centre, and Visweswaraya Iron And Steel Limited play a major role in the iron and steel export from India.
09. Textile
Value – 9 billion dollars
Textile is India’s trump card when it comes to exports. India tops the chart in jute production and also holds 63 per cent of the global market share in textiles and garments.
10. Electronics
Value – 9 billion dollars
When it comes to manufacturing electronic equipment, India is still seen as an importing country. However, the export part of this sector thrives silently yet largely. India has the third-largest pool of electronic scientists and engineers and the domestic demand for electronic goods propels the industry to grow faster and stronger, making export all the more important.
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Author Bio
I want to exports lots of products in worlds
Can you help me to export
hi yogesh
I will help you but what do you want to export comment the list of products