India's Export Boom: A Decade of Steady Growth

India's export sector has experienced consistent growth from 2010 to 2023, achieving a 6.3% growth rate in global exports, surpassing major economies. The success is attributed to effective trade policies, robust manufacturing, services sectors, and export promotion initiatives, integrating India deeper into global supply chains.

India's export sector has demonstrated a robust and consistent growth trajectory from 2010 to 2023, reflecting the nation's resilience and dynamism in global trade, according to an official statement on Tuesday.

As cited in an UNCTAD report, India has outpaced major economies with a 6.3 per cent growth rate in global exports, the highest among leading global players. The performance is particularly noteworthy when compared to the European Union, China, and the US, which noted lower growth rates of 3.9 per cent, 6.1 per cent, and 3.9 per cent respectively over the same period.

The growth reflects the success of India's trade policies, its manufacturing and services sectors, and effective export promotion strategies, further integrating India into global supply chains. From USD 274.8 billion in 2009-10, India's total exports surged to USD 776.3 billion in 2022-23 and are expected to reach USD 825 billion in 2024-25.

(With inputs from agencies.)