New Delhi. Indian products are getting established as a brand at the global level. The biggest proof of this is that the demand for Indian products is increasing rapidly in other developed countries including America. America's share in India's total exports has increased from 19 percent to 23 percent in the last 10 years and Europe's share has increased from 18 percent to 23 percent. This increase in the share of developed countries in total exports shows that Indian products are getting included in the best category. The share of Asian countries in Indian exports has decreased in the last 10 years.

Share of Indian exports across world regions in 2023-24

:Data from Ministry of Commerce and Industry

Exports of smartphones, electric machinery increased

In the year 2014-15, the merchandise export was $320 billion, which was $438 in the last financial year. According to the Ministry of Commerce and Industry, the US share in smartphone, electric machinery and equipment, drug formulation, biological exports has increased rapidly in the last few years. In the last financial year i.e. 2023-24, India exported smartphones worth $15.57 billion and the US has a 35.8 percent share in this export. In the year 2022-23, India exported smartphones worth $11 billion and then the US share was only 19.7 percent.

The US share in the export of electric machinery and equipment was 12.9 percent in 2015, which increased to 19.3 percent in the financial year 2023-24. In the year 2023-24, India has exported electric machinery and equipment worth $ 12.37 billion.

The increase in our exports to the US and developed countries is reflecting the competitiveness of Indian goods, which is a good sign for Indian exports. Apart from this, the strategy of developed countries to include countries other than China in the supply chain has also benefited.

Sunil Barthwal, Commerce Secretary

America is also a big market for the pharma sector

Along with generic medicines, America is also becoming the most important market for drug formulation and biological exports. In the last financial year 2023-24, India's drug formulation and biological exports were $ 21.71 billion and the US market share in it was 37 percent. In the financial year 2022-23, this share was 34 percent.

Along with America, developed countries like Netherlands, Britain, Italy, France, UAE are also becoming fans of Indian products. European countries have started giving priority to Indian products in the export of many goods ranging from smartphones to electric machinery and equipment.