India’s exporting more phones and cars, while jewellery, textiles take a backseat:GTRI

An analysis of the data by Global Trade Research Initiative (GTRI) indicates, India’s merchandise exports have undergone a major shift in recent years. India’s share in the global export of machinery, phones, automobiles and petroleum has grown significantly between 2015 and 2022. Meanwhile, there has been a marked decline in India’s share in its traditional export items such as gems and jewellery, apparel, meat and leather articles. Exports of textiles, clothing and made-ups, for instance, fell by about 17% y-o-y in FY2023. The data shows India’s exports in the category called electronics, telecom, mobile phone etc., jumped from $7.9 bn in 2015 to $26.6 bn in 2022 — from 0.41% share of world market to 0.71%, a 73% rise. In machinery, India’s global market share rose from 0.75% to 1.05%, a growth of 40%. Global Trade Research Initiative (GTRI) shows India’s exports in the category called electronics, telecom, mobile phone etc., jumped from $7.9 bn in 2015 to $26.6 bn in 2022 — from 0.41% share of world market to 0.71%, a 73% rise. In machinery, India’s global market share rose from 0.75% to 1.05%, a growth of 40%.