What are the primary markets for India's exports?
India’s exports are primarily focused on four main markets: the United States, the European Union, the United Arab Emirates, and China.
1. The United States: The United States is India’s largest export market. In 2019, India exported goods worth US$51.5 billion to the US, accounting for 17% of India’s total exports. India exports a wide range of goods to the US, ranging from traditional items such as textiles, apparel, and jewelry to high-tech goods such as pharmaceuticals, IT services, and auto components. India is also the largest supplier of IT services to the US, accounting for nearly 75% of the total IT services imports.
2. The European Union: The European Union is India’s second-largest export market. In 2019, India exported goods worth US$45.2 billion to the EU, accounting for 15% of India’s total exports. India’s exports to the EU are mainly focused on textiles and apparel, pharmaceuticals, IT services, and auto components.
3. The United Arab Emirates: The United Arab Emirates is India’s third-largest export market. In 2019, India exported goods worth US$26.2 billion to the UAE, accounting for 9% of India’s total exports. India’s exports to the UAE are mainly focused on textiles and apparel, jewelry, and IT services.
4. China: China is India’s fourth-largest export market. In 2019, India exported goods worth US$20.5 billion to China, accounting for 7% of India’s total exports. India’s exports to China are mainly focused on pharmaceuticals, IT services, and auto components. Apart from these four main markets, India also exports to other countries such as Japan, Singapore, South Korea, Hong Kong, and Saudi Arabia. India’s exports to these countries are mainly focused on textiles and apparel, pharmaceuticals, IT services, and auto components.
In addition to these markets, India also exports to emerging markets such as Brazil, Russia, and Turkey. India’s exports to these countries are mainly focused on textiles and apparel, pharmaceuticals, IT services, and auto components.
Overall, India’s export markets are diverse and expanding. India’s exports are mainly focused on traditional items such as textiles and apparel, jewelry, and IT services. However, India is also increasing its exports of high-tech goods such as pharmaceuticals and auto components. India is also expanding its exports to emerging markets such as Brazil, Russia, and Turkey.|