Netherlands emerges as India's 3rd largest export destination in 2023-24
The Hindu
Netherlands emerges as a key export destination for India, with strong growth in trade and investment.
The Netherlands has emerged as India's third largest export destination after the U.S. and UAE during 2023-24, even as the country's merchandise shipments dipped by over 3%, according to the Commerce Ministry data.
The main commodities which registered healthy exports growth in the Netherlands include petroleum products ($14.29 billion), electrical goods, chemicals, and pharmaceuticals in the last fiscal.
India's trade surplus with the Netherlands has increased to $17.4 billion in the last fiscal from $13 billion in 2022-23.
The Netherlands has taken over major destinations such as the U.K., Hong Kong, Bangladesh and Germany.
India's exports to the Netherlands rose by about 3.5% to $22.36 billion in 2023-24 as against $21.61 billion in 2022-23, the data showed.
In 2021-22 and 2020-21, the outbound shipments to the European country stood at $12.55 billion and $6.5 billion, respectively.
The exports have been registering healthy growth continuously since 2000-01, when India's exports to that nation were $880 million.
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