India’s high-value products in global top-10 club

New Delhi: India has recorded a sharp increase in exports for several key product categories with the country maintaining or improving its rank among the top-10 global suppliers, in export values exceeding $1 billion in 2023, according to figures released by the Commerce and Industry Ministry on Tuesday. “From dominating the global market in precious stones to making inroads in advanced sectors like semiconductors and electrical components, India’s export performance reflects the country’s growing economic prowess,” the official statement said. The country’s strategic focus on electronics and semiconductors has yielded impressive results.

Exports grew from $0.23 billion in 2014 to $1.91 billion in 2023, achieving a global market share of 1.40 per cent and securing the 9th position, a significant jump from 20th in 2014, the official figures show.

“This progress highlights India’s growing role in the global semiconductor supply chain, supported by efforts to enhance domestic manufacturing and innovation,” the statement observed.