NEW DELHI: The Netherlands has emerged as India’s third largest exports destination after the US and UAE during 2022-23, showed commerce ministry’s data on Sunday.
This can be attributed to a surge in shipment of goods such as petroleum products, electronic items, chemicals, and aluminium goods, reported PTI, citing commerce ministry. India’s trade surplus with the Netherlands has also increased from USD 8 billion in 2021-22 to USD 13 billion in 2022-23.
The Netherlands has taken over major destinations such as the UK, Hong Kong, Bangladesh and Germany, the data showed.
India’s exports to the Netherlands rose by about 48 per cent to
USD 18.52 billion during 2022-23 as against USD 12.5 billion in 2021-22.
In 2021-22 and 2020-21, the outbound shipments to the European country stood at USD 12.55 billion and
USD 6.5 billion, respectively.
The exports are registering healthy growth continuously since 2000-01, when India’s exports to that nation was USD 880 million.
Further, in 2021-22, the Netherlands was the fifth largest destination for Indian exports as against ninth in
2020-21.
Federation of Indian Export Organisations (FIEO), Director General Ajay Sahai said the Netherlands has emerged as a hub for Europe with efficient port and connectivity with the EU through road, railways and waterways.
In the calendar year, India’s
exports to the country increased to
USD 18.1 billion in 2022 from
USD 5.5 billion in 2017.
According to economic think tank GTRI (Global Trade Research Initiative), ATF (aviation turbine fuel) and diesel were the key petroleum products exported from India to that country.
Telecom equipment and smartphones with a value of over
USD 1 billion were the largest electronic items, it said.
Mumbai-based Mr. Sharad Kumar Saraf, Exporter and Chairman of Technocraft Industries said the trend would continue in the future also.
Mr. Saraf said that the Netherlands is a gateway to Europe as their ports are very efficient hence cheaper than other European ports for shipping operations.
