India’s export destinations: Netherlands and Brazil leapfrog ahead

Last updated Dec 19, 2022

Netherlands and Brazil have jumped ahead from their previous positions on India’s list of export destinations in the ongoing fiscal, a TOI report showed.

Citing commerce department data, the report highlights that the Netherlands is now India’s third-largest export destination. Brazil, India’s 20th biggest export destination between April and October 2021, is currently in the eighth position. US & UAE remain on top.

Exports to Tanzania have grown three times to $2.4 billion in the ongoing fiscal so far. Over 80% of exports from India are on account of more petrol and diesel shopped to the African nation.

While India’s total exports have risen 12.5% to over $263 billion, oil product exports have soared around 70%.

While several countries have reduced their dependence on Russia-refined oil products, India, which has seen a sharp spike in crude imported from Russia, is seen to be processing it and exporting it to many countries, especially in Europe.

India’s exports saw a marginal growth of 0.6 percent to USD 32 billion in November, according to the data released by the government. Exports of the country stood at $31.8 billion in November last year.

Agencies