India’s export story continues to shine on the global stage. According to the UNCTAD Key Statistics and Trends in International Trade 2024, India recorded the highest export growth rate among major economies from 2010 to 2023—an impressive 6.3% increase in its share of global exports.
This strong performance underscores the resilience and adaptability of India’s trade ecosystem, powered by its robust policy framework, export diversification, and expanding role in global value chains.
“India’s consistent export growth reflects the dynamism of its trade sector and the success of strategic initiatives in manufacturing and services,” a government official said.
Key Highlights at a Glance:
- India leads the pack with a 6.3% rise in global export share (2010–2023) — the fastest among all major economies.
- China follows with 6.1%, while the EU and US lag behind at 3.9%.
- Advanced economies like Japan and Russia showed stagnation or marginal growth.
- India’s total exports more than tripled over 15 years:
- 2009–10: USD 274.8 billion
- 2022–23: USD 776.3 billion
- 2024–25 (projected): USD 825 billion
Growth fueled by:
- Export promotion schemes (like RoDTEP, PLI schemes)
- Strengthening of manufacturing and services sectors
- Strategic trade agreements and digital trade enablement
- Deeper integration into global supply chains
What This Means for Indian Logistics & Trade:
India’s steady rise in export rankings is a positive signal for freight forwarders, NVOCCs, port operators, and global buyers. With policy support and improving infrastructure, India is poised to become an even more influential trade hub in the coming decade.