Overview In 2022, India was the number 5 economy in the world in terms of GDP (current US$), the number 15 in total exports, the number 8 in total imports, the number 140 economy in terms of GDP per capita (current US$) and the number 40 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of India are Refined Petroleum ($86.2B), Diamonds ($25.9B), Packaged Medicaments ($19.5B), Jewellery ($12.6B), and Rice ($11.1B), exporting mostly to United States ($82.9B), United Arab Emirates ($31.6B), Netherlands ($17.6B), China ($15.3B), and Bangladesh ($13.8B).

In 2022, India was the world's biggest exporter of Diamonds ($25.9B), Rice ($11.1B), Non-Retail Pure Cotton Yarn ($3.23B), Synthetic Reconstructed Jewellery Stones ($1.84B), and Other Pure Vegetable Oils ($1.28B)

Imports The top imports of India are Crude Petroleum ($170B), Coal Briquettes ($58.7B), Gold ($35.8B), Petroleum Gas ($32B), and Diamonds ($26.1B), importing mostly from China ($110B), United Arab Emirates ($51B), United States ($48.5B), Saudi Arabia ($46.2B), and Russia ($40.4B).

In 2022, India was the world's biggest importer of Coal Briquettes ($58.7B), Diamonds ($26.1B), Palm Oil ($11.1B), Mixed Mineral or Chemical Fertilizers ($7.88B), and Nitrogenous Fertilizers ($7.37B)

Location India borders Afghanistan, Bangladesh, Bhutan, Burma, China, Nepal, and Pakistan by land and Indonesia, Maldives, Sri Lanka, and Thailand by sea.

Latest Trends

February, 2024

Historical Data

Yearly Trade

Top Export (2022)Refined Petroleum$86.2B
Top Destination (2022)United States$82.9B

In 2022, India exported a total of $468B, making it the number 15 exporter in the world. During the last five reported years the exports of India have changed by $159B from $309B in 2017 to $468B in 2022.

The most recent exports are led by Refined Petroleum ($86.2B), Diamonds ($25.9B), Packaged Medicaments ($19.5B), Jewellery ($12.6B), and Rice ($11.1B). The most common destination for the exports of India are United States ($82.9B), United Arab Emirates ($31.6B), Netherlands ($17.6B), China ($15.3B), and Bangladesh ($13.8B).

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Exports (2022)
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Destinations (2022)
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Market Growth

Fastest Growing Export Markets (2021 - 2022)
United States$11.3B (+ 15.8%)
Netherlands$8.77B (+ 99.2%)
United Arab Emirates$6.77B (+ 27.3%)
Fastest Growing Import Markets (2021 - 2022)
Russia$32.8B (+ 430%)
Saudi Arabia$18.3B (+ 65.9%)
China$16.4B (+ 17.5%)

Total Export Growth by Market (2021 - 2022)

Service Trade

Service Trade

India Exports Services (2020)$101B
India Imports Services (2020)$103B

In 2020, India exported $101B worth of services. The top services exported by India in 2020 were Miscellaneous business, professional, and technical services ($42.2B), Sea transport ($14.1B), Personal travel ($11.8B), Other government services ($8.77B), and Air transport ($5.48B).

The top services imported by India in 2020 were Miscellaneous business, professional, and technical services ($48B), Sea transport ($12.3B), Personal travel ($8.19B), Royalties and license fees ($7.24B), and Air transport ($6.94B).

Service Exports (2020)

Service Imports (2020)

Economic Complexity


Economic Complexity (Trade)0.64Rank 40 of 133
Economic Complexity (Technology)1Rank 22 of 96
Economic Complexity (Research)-0.84Rank 111 of 135

Most Specialized Products by RCA Index

India has a high level of specialization in Spice Seeds (23), Other Organic Compounds (21.1), Granite (19.5), Coconut and Other Vegetable Fibers (19.4), and Synthetic Reconstructed Jewellery Stones (18.6). Specialization is measured using RCA, an index that takes the ratio between India observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of India according to the product complexity index (PCI) are Esters of other inorganic acids of non-metals (other than of hydrogen halides)... (1.8), Ion-exchangers; based on polymers of heading no. 3901 to 3913, in primary... (1.72), Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including... (1.67), Stainless steel bars and rods, hot-rolled, in irregularly wound coils (1.66), and Other organo-inorganic compounds (1.64). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for India according to the relatedness index, were Fake Hair (0.43), Animal Hair (0.41), Knit Sweaters (0.41), Mate (0.4), and Knit Men's Coats (0.4). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that India is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of India. These are products that tend to be co-exported with the products that India exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier


The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking


During the last 20 years India's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨46th to the 40th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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