India's export competitiveness has witnessed healthy gains in multiple sectors—particularly petroleum, gemstones, agrochemicals, and sugar—during the last five years, as these segments have increased their share in global trade, according to the commerce ministry data.
The other sectors where the share of India's exports has increased during 2018 and 2023 are electrical goods, pneumatic tyres, taps and valves, and semiconductor devices. The ministry data analysis showed that petroleum exports rose to $84.96 billion in 2023, with India's market share surging to 12.59 per cent last year from 6.45 per cent in 2018, positioning it as the second-largest global exporter. It was ranked fifth in 2018.
This story is from the November 04, 2024 edition of Business Standard.
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This story is from the November 04, 2024 edition of Business Standard.
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