According to recent data released by India’s commerce ministry, the Netherlands has become India’s third largest export destination after the US and UAE during the 2022-23 period. This growth can be attributed to a surge in shipments of goods such as petroleum products, electronic items, chemicals, and aluminium goods. The data also revealed that India’s trade surplus with the Netherlands has increased from USD 8 billion in 2021-22 to USD 13 billion in 2022-23.
The Netherlands has surpassed major destinations such as the UK, Hong Kong, Bangladesh, and Germany to become India’s third biggest export partner. India’s exports to the Netherlands have increased by 48% to USD 18.52 billion during 2022-23, from USD 12.5 billion in the previous year. This surge in exports has been steady since 2000-01 when India’s exports to the Netherlands were at USD 880 million. Additionally, the Netherlands was the fifth largest destination for Indian exports in 2021-22, compared to ninth in 2020-21.
The Director General of the Federation of Indian Export Organisations, Ajay Sahai, shared that the Netherlands has become a hub for Europe with efficient port and connectivity with the EU through railways, roads, and waterways. Meanwhile, GTRI reported that aviation turbine fuel (ATF) and diesel were the significant petroleum products exported, while telecom equipment and smartphones were the biggest electronic items.
Chairman of Technocraft Industries, Sharad Kumar Saraf, said the trend of exporting to the Netherlands would continue in the future. Saraf highlighted how the Netherlands is a gateway to Europe because of its efficient ports, making shipping operations cheaper than at other European ports.
India and the Netherlands have a long-standing relationship, with strong political, economic, and commercial ties. Over 200 Dutch companies, including Philips, Akzo Nobel, DSM, KLM, and Rabobank, operate in India, while more than 200 Indian firms, including major IT companies like TCS, HCL, Wipro, Infosys, Tech Mahindra, and Sun Pharmaceuticals and Tata Steel, have a presence in the Netherlands.
In conclusion, the Netherlands has emerged as a significant export destination for India, with a steady increase in exports since 2000-01. The efficient ports and connectivity with the EU make the Netherlands a gateway to Europe, making it an attractive destination for Indian exporters. The strong political, economic, and commercial ties between the two countries are expected to continue to grow in the future.
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