India’s journey toward becoming a global economic powerhouse is marked by remarkable achievements in its export landscape. The nation has demonstrated significant progress in diverse sectors, ranging from petroleum oils and agrochemicals to semiconductors and precious stones. This growth reflects India’s ability to leverage advanced technology, innovative practices, and competitive manufacturing to meet global demands. Supported by robust government initiatives, the country is not only expanding its export base but also strengthening its position as a reliable global supplier. India’s export performance in several key product categories at the 4-digit HS level has shown notable success, with the country maintaining or improving its rank among the top 10 global suppliers, all with export values exceeding $1 billion in 2023.
Though India’s sugar export is currently restricted, it has registered good growth. According to the government, India’s sugar exports have also witnessed exceptional growth, with the country’s share in the global market for cane or beet sugar rising from 4.31% in 2014 to 12.21% in 2023. Export values reached $3.72 billion in 2023, cementing India’s position as the second-largest sugar exporter. Strong production bases and favourable agricultural policies have enabled India to cater to growing demand, particularly in Southeast Asia and Africa, strengthening its agricultural economy.
In the agrochemical sector, India has achieved notable success, particularly in insecticides, rodenticides, and fungicides. By 2023, exports reached $4.32 billion, marking a global market share of 10.85%, up from 5.89% in 2014. Investments in research and development, coupled with compliance with international agricultural standards, have positioned India as the third-largest exporter globally. This growth underscores India’s pivotal role in supporting sustainable agriculture.
(Source: PIB)
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