The economy is one of the most important aspects that contribute to the growth of any country. Indeed, it is with the flow of products that the gross annual income of a country is computed. By knowing how much has been earned by its citizens and its businesses, the economic state of the country is determined. One of the things that are observed is the flow of the export products and how well they perform in foreign countries where they are being sold.
All countries have their own export products. More often than not, products that are exported are the ones which a certain country is most proud of. India is one of the countries that have an impressive flow of export goods.
Here at West Bengal Trade Promotion Organisation, we monitor the trade and commerce of the country. With that, here is a closer look at India’s export market.
India is one of the countries that are doing well when it comes to their exports. In fact, this is one of the reasons why India is one of the fastest-growing economies in the world. According to statistics, the export market of India is the major contributor to its economy. Aside from that, they are also known as one of the leading exporters around the world.
Here are some of India’s most popular exports.
- Precious metals
- Oil and other mineral fuels
- Iron and steel
- Computers and other gadget components
- Organic chemicals
- Electrical machinery and its components
These are just some of the products that are being exported from India. More often than not, the net worth of the exports can be valued at more than a hundred million dollars.
Top export recipients
Given the fact that the products being exported by India are really promising, the things that they offer have already made their way to several countries around the world. By being one of the top exporters in the world, it is not surprising to know that the variety of products they offer appeals to the interests of other countries. With that, here are some of the most common recipients of Indian exports and the products that they usually receive.
- United States (diamonds)
- United Arab Emirates (jewellery)
- China (refined copper)
- Hong Kong (diamonds)
- Germany (gas turbines)
Although the aforementioned are just some of the country’s main exports, what remains to be on top is refined petroleum. Given that this is highly important in any country, it is not surprising to know that India became an economic powerhouse because of the way that it exports a lot of essential petroleum across the world.
By looking at the performance of Indian products on the export market, one will really be impressed by how India is capable of having a promising economy that can rival that of other huge countries.