India’s Third-Largest Export Market In The Fiscal Year 2023–24 : Netherland
The Netherlands became India’s third-largest export market in the fiscal year 2023–24, after the US and the UAE.
- This was the case even though India’s total exports of goods fell by 3%, according to reports from the Commerce Ministry.
- This rise has been emphasized even though trade between the two countries is going down. In 2022–23, it went from $27.58 billion to $27.34 billion, a small drop.
- There has been a lot of growth in India’s exports to the Netherlands.
- The main areas of growth are petroleum products, electrical items, chemicals, and pharmaceuticals. Oil goods were the most important, with $14.29 billion worth of exports in the last fiscal year.
- India’s trade with the Netherlands has been steadily growing, going from $880 million in 2000-01 to $22.36 billion in 2023-24—a 3.5% rise from $21.61 billion in 2022-23.
- In the end, India’s trade balance with the Netherlands grew from $13 billion the previous year to $17.4 billion the last fiscal year.
