India right now is leading as a globally ranking trade destination because of the continuous efforts of the government authorities regarding the production-linked incentive schemes, free trade agreements, and digital India initiatives like other schemes for the betterment of the growing economy. The vast manufacturing industries like automotive, textiles, and machinery along with the strong agricultural sectors producing tons of agricultural necessities acquired by the global industries and the strong demand from the Middle East and Asia are promoting the preceding growth of the export sector. Crucial key players of the country's trade like IT services account for more than 50% of the total export revenue of the nation in 2023.

The wide production of the industrial sectors engaged in the production of the globally acquired essentials recorded an export trade value of 600 billion US dollars in 2023 with a staggering import trade rate of 400 billion US dollars. The increasing political stability of the nation with different leading trade destinations and the government's push towards renewable energy resources is leading to a growing positive outgrowth of the country in the upcoming years.

The Leading Global Export Trade Partners of 2023

1. United States - As per the USA Import Data, the valuation of products exported from India in 2023 - 245 billion US dollars.

VARIANTS OF THE PRODUCTS EXPORTED

• Petroleum products
• Polished diamonds
• Pharmaceuticals
• Jewelry
• Frozen shrimp

2. China - As per the China Import Data, the valuation of products exported from India in 2023 - 178 billion US dollars.

VARIANTS OF THE PRODUCTS EXPORTED

• Mobile phone
• Silver articles
• Platinum jewellery
• Cotton yarn
• Readymade garments

3. UAE - As per the UAE Import Data, the valuation of products exported from India in 2023 - 156 billion US dollars.

VARIANTS OF THE PRODUCTS EXPORTED

• Carpets
• Silk fabrics
• Jute products
• Copper articles
• Zinc products

4. Hong Kong - As per the Hong Kong Import Data, the valuation of products exported from India in 2023 - 142 billion US dollars.

VARIANTS OF THE PRODUCTS EXPORTED

• Generic drugs
• Pharmaceuticals
• Vaccines
• Processed food products
• Lubricants

5. Singapore - As per the Singapore Import Data, the valuation of products exported from India in 2023 - 98 billion US dollars.

VARIANTS OF THE PRODUCTS EXPORTED

• Wheat
• Tea
• Nuts
• Fresh fruits
• Automobile parts

6. Netherlands - As per the Netherlands Import Data, the valuation of products exported from India in 2023 - 78 billion US dollars.

VARIANTS OF THE PRODUCTS EXPORTED

• Two-wheelers
• Passenger vehicles
• Wooden furniture
• Handicrafts
• Ceramics

7. Germany - As per the Germany Import Data, the valuation of products exported from India in 2023 - 65 billion US dollars.

VARIANTS OF THE PRODUCTS EXPORTED

• Mineral fuels
• Coal tar
• Vehicles
• Organic chemicals
• Dyes

8. United Kingdom - As per the United Kingdom Import Data, the valuation of products exported from India in 2023 - 59 billion US dollars.

VARIANTS OF THE PRODUCTS EXPORTED

• Solar panel
• Railway equipments
• Copper articles
• Zinc products
• Vehicles

9. Bangladesh - As per the Bangladesh Import Data, the valuation of products exported from India in 2023 - 47 billion US dollars.

VARIANTS OF THE PRODUCTS EXPORTED

• Generic drugs
• Vaccines
• Organic chemicals
• Lubricants
• Coal tar

10. Vietnam - As per the Vietnam Import Data, the valuation of products exported from India in 2023 - 38 billion US dollars.

VARIANTS OF THE PRODUCTS EXPORTED

• Wind turbines
• Solar cells
• Paperboard
• Plywood
• Bags and accessories

The Leading Global Import Trade Partners of 2023

1. China - As per the China Export Data, the valuation of the products imported by India in 2023 – 320 billion US dollars.

IMPORTED PRODUCTS VARIANT

• Electrical machinery and equipment
• Organic chemicals
• Machine and components
• Iron and steel products
• Auto components

2. United States - As per the USA Export Data, the valuation of the products imported by India in 2023 – 210 billion US dollars.

IMPORTED PRODUCTS VARIANT

• Mineral fuels
• Machines and appliances
• Electrical equipments
• Precious stones
• Aircraft equipments

3. Saudi Arabia - As per the Saudi Arabia Export Data, the valuation of the products imported by India in 2023 - 122 billion US dollars.

IMPORTED PRODUCTS VARIANT

• Crude oil
• Fertilizer
• Organic chemicals
• Plastics
• Inorganic chemicals

4. UAE - As per the UAE Export Data, the valuation of the products imported by India in 2023 – 100 billion US dollars.

IMPORTED PRODUCTS VARIANT

• Crude petroleum
• Gold
• Diamonds
• Plastics
• Petrochemical products

5. Iraq - As per the Iraq Export Data, the valuation of the products imported by India in 2023 – 89 billion US dollars.

IMPORTED PRODUCTS VARIANT

• Luxurious materials
• Ceramic products
• Textiles
• Furniture
• Seafood

6. Switzerland - As per the Switzerland Export Data, the valuation of the products imported by India in 2023 – 78 billion US dollars.

IMPORTED PRODUCTS VARIANT

• Gold
• Machinery
• Pharmaceuticals
• Chemical products
• Precision equipment

7. Germany - As per the Germany Export Data, the valuation of the products imported by India in 2023 – 69 billion US dollars.

IMPORTED PRODUCTS VARIANT

• Electrical machinery
• Machinery
• Vehicles
• Pharmaceutical products
• Diamonds and other luxury metals

8. South Korea - As per the South Korea Export Data, the valuation of the products imported by India in 2023 – 54 billion US dollars.

IMPORTED PRODUCTS VARIANT

• Mineral fuels
• Ships
• Automotive goods
• Organic chemicals
• Plastics

9. Malaysia - As per the Malaysia Export Data, the valuation of the products imported by India in 2023 – 38 billion US dollars.

IMPORTED PRODUCTS VARIANT

• Plastic articles
• Papers
• Gold
• Diamonds
• Solar panel

10. Indonesia - As per the Indonesia Export Data, the valuation of the products imported by India in 2023 – 22 billion US dollars.

IMPORTED PRODUCTS VARIANT

• Organic chemicals
• Iron and steel
• Furniture
• Fertilize
• Crude oil

FAQ’S

Que. What is the export trade value of India in 2023?
Ans. The export trade value of India in 2023 is 600 billion US dollars.

Que. Who is the top export trade partner of India in 2023?
Ans. The top export trade partner of India in 2023 is the United States.

Que. Who is the top import trade partner of India in 2023?
Ans. The top import trade partner of India in 2023 is China.

Que. Where can you get a detailed trade analysis of India's trade market in 2023?
Ans. By subscribing to Import Globals, you can get a detailed trade analysis of India's trade market in 2023.

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