{"id":9656,"date":"2024-11-04T09:23:20","date_gmt":"2024-11-04T09:23:20","guid":{"rendered":"https:\/\/shoonya.com\/blog\/?p=9656"},"modified":"2024-11-04T09:23:21","modified_gmt":"2024-11-04T09:23:21","slug":"indias-export","status":"publish","type":"post","link":"https:\/\/shoonya.com\/blog\/indias-export\/","title":{"rendered":"India\u2019s export rises across petroleum, sugar, and gemstone sectors, pushing India to 3rd position globally"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\"><\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/shoonya.com\/blog\/indias-export\/#Sector-wise_Export_Growth\" >Sector-wise Export Growth<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/shoonya.com\/blog\/indias-export\/#Emerging_Sectors\" >Emerging Sectors&nbsp;<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/shoonya.com\/blog\/indias-export\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/shoonya.com\/blog\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/shoonya.com\/blog\/latest-news\/\">News<\/a><\/span> \u00bb <span class=\"breadcrumb_last\" aria-current=\"page\"><strong>India\u2019s export rises across petroleum, sugar, and gemstone sectors, pushing India to 3rd position globally<\/strong><\/span><\/span><\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From the fifth position, India has now secured the third position as the largest global exporter and the recent surge in different sectors for export is boosting this growth as well. The current surge in India\u2019s exports can be mainly attributed to growing export demand from four sectors: petroleum, agrochemicals, gemstones, and sugar. In the past five years, the share of the products of these sectors has been rising significantly taking the export demand higher.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-sector-wise-export-growth\"><span class=\"ez-toc-section\" id=\"Sector-wise_Export_Growth\"><\/span>Sector-wise Export Growth<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Petroleum Sector: <\/strong>Exports in the petroleum sector were close to 85 billion in 2023 which pulled up the <strong>share of India\u2019s exports <\/strong>in this sector to 12.59% which was earlier around 6.45% in 2018. India is the second largest exporter of petroleum as per 2023 data up from its fifth position in 2018 in this sector.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Sugar sector: <\/strong>India is known for its sugarcane produce and exports. India has been the second-largest sugar exporter in the world for a long and it also adds to global agricultural policy-making and more. <strong>India\u2019s export <\/strong>of sugarcane or beet sugar has increased 4X to $3.72 billion. In 2018, this figure stood at $0.93 billion which showcases the significant growth in the industry. The global market share of India\u2019s export of sugarcane stands at 12.21% as per 2023 data, while it was only at around 4.17% in 2018.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Gemstone Sector: <\/strong>In 2023, <strong>India\u2019s export <\/strong>of precious stones, and gemstones surged to $1.52 billion up from its previous level of $0.26 billion in 2018. <strong>India&#8217;s share in global exports <\/strong>of gemstones surged from 16.27% five years ago to 36.53% in 2023. Currently, India is leading in the global exports of precious stones.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Agrochemical Sector<\/strong>: The fourth sector or the fourth pillar of the recent surge in <strong>India\u2019s exports<\/strong> is agrochemical product\u2019s demand. From a global market share of 8.52% in 2018, in 2023, India had a market share of 10.85%, which showcases a significant rise in the market share. The value of exports of agrochemicals reached $4.32 billion during the same year. The Officials commented that India&#8217;s following environmental standards, and innovating agro products are the main reasons for this surge in demand in global markets.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-emerging-sectors-nbsp\"><span class=\"ez-toc-section\" id=\"Emerging_Sectors\"><\/span>Emerging Sectors&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Rubber\/Tyres Sector: <\/strong>In the rubber pneumatic tyres segment, the exports grew to $2.66 billion in 2023 from $1.82 billion in 2018. Now India\u2019s position in this sector as an exporter is 8th up from 13th five years back.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Semiconductor Sector: <\/strong>Exports of semiconductors from India are also picking up along with the export of photosensitive devices. In 2023, exports from this sector were recorded at $1.91 billion, which was around just $0.16 billion five years back in 2018. Currently, India has a 1.4% <strong>market share in the export <\/strong>of semiconductors and ranks 9th globally with a potential to lead the global markets soon.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-conclusion\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>India\u2019s rising export<\/strong> indicates towards the rising demand for Indian goods and services. Rising exports can boost the economy significantly and businesses. While the above sectors witnessed a massive surge in exports, other sectors also witnessed a <strong>surge in exports<\/strong>. All these together indicate towards growing Indian economy and export demand.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Source: <a href=\"https:\/\/www.cnbctv18.com\/economy\/india-rises-as-global-player-in-petroleum-gemstone-sugar-exports-with-surging-market-share-in-five-years-19503025.htm\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">CNBC TV18<\/mark><\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">______________________________________________________________________________________<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/shoonya.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">Disclaimer<\/mark><\/a>: Investments in the securities market are subject to market risks; read all the related documents 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The current surge in India\u2019s exports can be mainly attributed to growing export demand from four sectors: petroleum, agrochemicals, gemstones, and sugar. In the &hellip; <a href=\"https:\/\/shoonya.com\/blog\/indias-export\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;India\u2019s export rises across petroleum, sugar, and gemstone sectors, pushing India to 3rd position globally&#8221;<\/span><\/a><\/p>\n","protected":false},"author":16,"featured_media":9660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[1082],"tags":[5726,5728,5724,5727,5725,5723,5729],"class_list":["post-9656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-export-data-india","tag-export-sector-in-india","tag-indias-export","tag-indias-export-growth","tag-indias-share-in-global-exports","tag-indias-export-surge","tag-share-of-indias-exports"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast 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