India’s share in global exports touched 3% in 2023 from 2.2% in 2010 growing at 6.3% annually during the period, which was highest pace among the major economies of the world, according to the United Nations Conference on Trade and Development (UNCTAD) report.
“The steady upward trend reflects the resilience and dynamism of India’s trade sector. This rate of growth is the highest among all major economies as reported by UNCTAD key statistics and trends in international trade 2024,” an official said on Tuesday.
This reflects the effectiveness of India’s trade policies, manufacturing and services sectors, and the impact of export promotion initiatives, which have contributed to enhancing the country’s integration into global supply chains, the official added.
The country’s total exports — goods and services combined — in 2009-10 were $ 274.8 billion and by 2022-23, it went up to $ 776.3 billion. In the just concluded 2024-25 total exports touched $ 825 billion.
The data shows stray rise for India while some other economies have also shown decline during the period.
“While some advanced economies like Japan and Russia experienced only marginal increases or stagnation in their export shares, India’s export trajectory has been marked by a consistent and steady upward trend, reflecting the resilience and dynamism of its trade sector,” the official said.
This performance stands out even more when compared to other leading economies such as the European Union, China, and the US, which recorded lower export share growth rates of 3.9%, 6.1%, and 3.9% during the same period.