New Delhi: India has recorded significant growth in export competitiveness across multiple sectors, with notable gains in petroleum, gemstones, agrochemicals, and sugar. According to recent data from the commerce ministry, the country's share in global exports has expanded in these areas, reflecting robust international demand and India's strengthened market position from 2018 to 2023.
Petroleum exports reached 84.96 billion dollars in 2023, marking a jump in India's global market share from 6.45 percent in 2018 to 12.59 percent last year. This growth has elevated India from the fifth-largest to the second-largest exporter in the world in the petroleum sector.
India Becomes Top Global Exporter of Gemstone
In the precious and semi-precious stones market, India emerged as the top global exporter, with its share surging from 16.27 percent in 2018 to 36.53 percent in 2023. Exports of these stones climbed to 1.52 billion dollars last year from 0.26 billion dollars in 2018, moving India up from the second spot to the top position globally.
India’s Global Market Share in Sugar Rises
Similarly, India has seen strong growth in sugar exports, particularly in cane and beet sugar, where outbound shipments more than quadrupled, rising to 3.72 billion dollars in 2023 from 0.93 billion dollars in 2018. This boost has raised India’s global market share in sugar from 4.17 percent to 12.21 percent over the same period.
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Other sectors such as electrical goods, pneumatic tyres, taps, valves, and semiconductor devices have also shown improved export shares, highlighting India’s strengthening foothold in global trade across diverse industries.
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