According to data released on Sunday by the trade ministry, the Netherlands has surpassed the United States and the United Arab Emirates as India's third-largest export destination.
According to PTI, which cited the commerce ministry, this can be explained by an increase in the export of goods including petroleum products, electronics, chemicals, and aluminium products. From USD 8 billion in 2021–2022 to USD 13 billion in 2022–2023, India's trade surplus with the Netherlands has also increased.
According to the
export import data, the Netherlands has supplanted important locations including the UK, Hong Kong, Bangladesh, and Germany. When compared to 2021–2022, India’s exports to the Netherlands increased by roughly 48% to $18.52 billion in 2022–2033.
The amount of goods exported to the European nation in 2021–2022 and 2020–2021 was USD 12.55 billion and USD 6.5 billion, respectively. Since India's exports to that country were USD 880 million in 2000–01, the exports have been growing steadily.
In addition, the Netherlands ranked sixth in terms of the volume of Indian exports in 2021–22 as opposed to ninth in 2020–21. The Netherlands has established itself as a hub for Europe, according to Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai, with an effective port and access to the EU via roads, railroads, and waterways.
However, India's exports to the nation climbed from 5.5 billion USD in 2017 to 18.1 billion USD in 2022 throughout the calendar year.