New Delhi, Dec 20: Netherlands and Brazil have jumped ahead from their previous positions on India's list of export destinations in the ongoing fiscal year.
Citing commerce department data, the report highlights that the Netherlands is now India's third-largest export destination. Brazil, India's 20th biggest export destination between April and October 2021, is currently in the eighth position. US & UAE remain on top.
Exports to Tanzania have grown three times to $2.4 billion in the ongoing fiscal so far. Over 80% of exports from India are on account of more petrol and diesel shopped to the African nation. While India's total exports have risen 12.5% to over $263 billion, oil product exports have soared around 70%. While several countries have reduced their dependence on Russia-refined oil products, India, which has seen a sharp spike in crude imported from Russia, is seen to be processing it and exporting it to many countries, especially in Europe. India's exports saw a marginal growth of 0.6 percent to USD 32 billion in November, according to the data released by the government. Exports of the country stood at $31.8 billion in November last year. Imports rose 5. 4 percent to USD 55. 9 billion in November as compared to $53 billion in the corresponding month a year ago, the data showed. The trade deficit widened to $23. 9 billion during November month.
India's overall export, which included both merchandise and services, stood at USD 58.22 billion in November, which showed a 10 percent growth over the same period last year.