BEML company manufactures everything from railway projects to Vande Bharat. Now it is also exporting. The company’s chairman Shantanu Roy has provided this information. Indian government companies export a lot of products to India Electronic EVM. This is the only company in the country to do so. Hindustan Aeronautics Limited i.e. HAL, one of the largest companies in the Indian defence sector, exports defence-related products. In today’s story we will understand how many crores of rupees India exports in a year.
How big are India’s exports?
According to the data from the Ministry of Commerce, the start of the 2024-25 fiscal year was excellent in terms of exports. The country’s total exports (goods and services) increased by 6.88 percent in April 2024. In April this year, a total of $64.56 billion was exported from the country, while in April last year this figure was only $60.40 billion. If we look at merchandise exports alone, in April this year they increased by 1.08 percent to $34.99 billion. In the same month last year it was $34.62 billion. Similarly, the export of services in April is estimated at $29.57 billion. In April 2023 it was $25.78 billion.
Which product is in greatest demand?
If we look at India’s exports separately, sectors like electronics, chemicals, petroleum products and medicines registered strong growth in April this year. A 25.8 per cent growth has been seen in the export of electronic products. It has been worth $2.65 billion. Similarly, the export of chemicals increased by 16.75 per cent to $2.5 billion, export of medicines increased by 7.36 per cent to $2.43 billion and export of petroleum products increased by 3.10 per cent to $6.62 billion.
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Understand India’s export strength here
- India’s petroleum product exports rank second in the world and account for around 10% of the country’s total export value. This includes refined petroleum, naphtha and liquefied petroleum gas.
- India is among the top 20 pharmaceutical exporting countries in the world and exports account for about 50% of the industry’s total turnover.
- India’s leather industry is a major export earner and supplies bags, shoes and jackets to the world.
- India has a long history of dairy production and products such as milk, ghee and cheese are in high demand internationally.
- India’s spice business is highly profitable, with annual revenues of over Rs 40 billion. In 2020, India exported spices worth $3.65 billion.
- In 2021, India exported coffee worth $669 million, making it the 15th largest coffee exporter in the world.
- In 2020, India was the world’s seventh largest exporter of gems and jewellery, accounting for around 3.5% of total exports.
