Top 10 Exported Commodities of India

According to recent data, India is the fastest growing economy in the world. In previous four years, India’s export amount has risen by 44%. In 2014, the country’s total export was over 321.5 billion dollars. According to reports of statistical, India’s total GDP has accumulated to more than 8.27 trillion dollars this year.

In India’s gross economic output exports contribute around four percent. During 2014, 10 commodities were exported the most and fetched foreign currency for India.

commodities most exported

 

Here are the 10 commodities most exported from India

1. Petroleum products:

Value – 63.92 million tonnes (MT)

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The global demand of Petroleum is weak, which impact on most export sectors, also played a important role in Indian economy. India exported a total of 63.92 million tonnes (MT) of petroleum products like petrol, diesel, kerosene, naphtha, aviation turbine fuel (ATF) and fuel oil. Oil-based products and crude oil giants Like HP (Hindustan Petroleum Corporation Limited), Bharat Petroleum limited, Reliance Petroleum, ONGC and et al have contributed largely to the export sector of India. Although the country is dependent on oil imports, export of oil-based products has supported the economy to a large extent.

Petroleum products

2. Precious stones:

Value – 41.2 billion dollars

India consumes around 20 percent of the global gold production and 75 percent of that amount goes into making jewellery. The jewellery sector is also supported by banks and government policies so that the industry does not fall drastically. Around 30 percent of Indian jewellery gets exported to the United States alone. Other such countries include Hong Kong, UAE, Singapore and Belgium.

Precious stones

3. Automobile:

Value – 14.5 billion dollars

The automotive industry in India is one of the largest in the world with an annual production of 23.37 million vehicles in FY 2014-15, following a growth of 8.68 per cent over the last year. The automobile industry accounts for 7.1 per cent of the country’s gross domestic product (GDP).

automobile

4. Machinery:

Value – 13.6 billion dollars

There has been a 14 percent increase in the export of heavy machinery from India. All types of machines CNC, non CNC, cars, pumps, heavy machines, building construction tools, agricultural equipment, metal cutting and metal forming were exported from India to various countries.

Machinery

5. Bio-chemicals:

Value -12 billion dollars

Manufacturing bio-chemicals is a nationwide business in India. The contribution of this sector hugely to the national economy and is an essential part of it. Manufacturers and exporters are spread all over the country. Research facilities have also supported this sector to a large extent

Bio-chemicals

6. Pharmaceuticals:

Value 11.7 billion dollars

Being a research-based industry, the Pharmaceuticals sector in India has seen a huge growth over the past few decades. Major Pharma Company like J. B. Chemicals & Pharmaceuticals Limited, Suven Life Sciences Limited, Dr. Reddy’s Laboratories, Aurobindo Pharma, Luipin, Ranbaxy, Sun Pharma, Zydus Cadila, Glowchem and Calyx play a huge role in promoting the sector to the world market.

Pharmaceuticals

7. Cereals:

Value 10.1 billion dollars

India is one the leading exporters of cereals and the second largest producer of rice. Being an agriculture-driven country, India depends largely on its produce of cereals and so does the importer countries such as Iran, Saudi Arabia, Indonesia, UAE and Bangladesh.

Cereals

8. Iron and steel:

Value 9 billion dollars

Before the Independence, India used to depend on its import of Iron and Steel. But now, the country has gone through such an industrial growth that it has become fourth largest steel producer in the world fourth largest steel producer in the world. Steel tycoons such as TISCO, IISCO, bhilai Iron and Steel Center, Visweswaraya Iron And Steel Limited play a major role in the Iron and Steel export from India.

Iron and steel

9. Textile:

Value 9 billion dollars

Textile is India’s trump card when it comes to exports. India tops the chart in jute production and also holds 63 percent of the global market share in textiles and garments.

textile

10. Electronics:

Value – 9 billion dollars

When it comes to manufacturing electronic equipment, India is still seen as an importing country. But, the export part of this sector thrives silently yet largely. India has the third largest pool of electronic scientists and engineers and the domestic demand of electronic goods propels the industry to grow faster and stronger, making export all the more important.

Electronics

 

 

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