India's total merchandise exports reached $776 Billion (FY2024). Services exports: $341 Billion. Combined: over $1.1 Trillion — the world's 8th largest exporter. Data sourced from DGFT, Ministry of Commerce, RBI, UNCTAD, and ITC Trade Map.
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Source: DGFT / Ministry of Commerce India FY2024 export data. Values in USD Billion.
| # | Sector / Category | Export Value | Share % | YoY Growth | Key Destinations | FTA Benefit |
|---|---|---|---|---|---|---|
| 1 | Petroleum Products | $96.4B | 12.4% | +6.2% | UAE, Singapore, Netherlands, USA | Low |
| 2 | Engineering Goods | $109B | 14.1% | +8.4% | USA, EU, UAE, UK, Africa | High |
| 3 | Gems & Jewellery | $37.6B | 4.8% | -4.1% | USA, UAE, Hong Kong, Belgium | Moderate |
| 4 | Organic & Inorganic Chemicals | $29.3B | 3.8% | +5.7% | USA, China, EU, Bangladesh | High |
| 5 | Pharmaceuticals | $27.8B | 3.6% | +9.2% | USA (45%), EU (18%), Africa | High |
| 6 | Electronic Goods | $29.1B | 3.8% | +23.6% | USA, UAE, EU, Netherlands | Very High |
| 7 | Textiles & Apparel | $44.4B (incl. RMG) | 5.7% | +3.1% | EU (28%), USA (27%), UAE (12%) | Very High |
| 8 | Agro & Food | $53.1B | 6.8% | +4.5% | USA, China, Bangladesh, EU | High |
| 9 | Leather & Footwear | $4.8B | 0.6% | -2.3% | Germany, UK, Italy, USA | High |
| 10 | Plastic & Linoleum | $11.2B | 1.4% | +7.1% | USA, EU, UAE, Africa | Moderate |
| 11 | IT / Software Services | $194B* | — | +11.4% | USA (60%), EU (25%), APAC | High |
| 12 | Marine Products | $7.8B | 1.0% | -8.2% | USA, EU, Japan, China | Moderate |
* IT/Software exports are services trade (Mode 1 cross-border). All other figures are merchandise. Source: DGFT, NASSCOM, Ministry of Commerce India FY2024.
| # | Country | Value | Share | FTA |
|---|---|---|---|---|
| 1 | 🇺🇸 USA | $77.5B | 10.0% | No bilateral FTA |
| 2 | 🇦🇪 UAE | $35.1B | 4.5% | CEPA — in force 2022 |
| 3 | 🇳🇱 Netherlands | $23.8B | 3.1% | EU FTA (2026) |
| 4 | 🇨🇳 China | $16.7B | 2.2% | RCEP — in force 2022 |
| 5 | 🇬🇧 UK | $16.9B | 2.2% | FTA under negotiation |
| 6 | 🇧🇩 Bangladesh | $14.1B | 1.8% | SAFTA |
| 7 | 🇩🇪 Germany | $9.8B | 1.3% | EU FTA (2026) |
| 8 | 🇸🇬 Singapore | $12.4B | 1.6% | CECA — in force 2005 |
| 9 | 🇭🇰 Hong Kong | $12.1B | 1.6% | No FTA |
| 10 | 🇸🇦 Saudi Arabia | $11.8B | 1.5% | GCC FTA (negotiating) |
| 11 | 🇧🇪 Belgium | $9.2B | 1.2% | EU FTA (2026) |
| 12 | 🇯🇵 Japan | $6.5B | 0.8% | CEPA — in force 2011 |
| 13 | 🇮🇹 Italy | $7.1B | 0.9% | EU FTA (2026) |
| 14 | 🇲🇾 Malaysia | $6.8B | 0.9% | ASEAN FTA |
| 15 | 🇰🇷 South Korea | $5.9B | 0.8% | CEPA — in force 2010 |
Total India → EU: ~€78B. Post-FTA projection: €110–130B by 2030. Source: Eurostat / DGFT 2024.
The EU is the largest single-bloc destination for Indian exports. The India–EU FTA transforms this from a $78B relationship into a projected $130B+ corridor by 2030.
| Sector | Current India → EU | Current EU Duty | Post-FTA Duty | Timeline | Opportunity Size | Key Compliance |
|---|---|---|---|---|---|---|
| Textiles & Apparel | ~€4.5B | 10–12% | 0% (3–5 yrs) | 2026–2031 | €6–8B by 2030 | GOTS, OEKO-TEX, ROO fabric-forward |
| Engineering Goods | ~€14B | 7.5–15% | 0% (7–10 yrs) | 2026–2036 | €20–25B by 2035 | IATF 16949, CE marking, EN standards |
| Pharmaceuticals | ~€4.2B | 0–6.5% | 0% (0–3 yrs) | 2026–2029 | €7–10B by 2030 (MRA) | WHO-GMP, EUGMP, QP/QPPV required |
| Chemicals & Specialty | ~€5.1B | 4–8% | 0% (3–5 yrs) | 2026–2031 | €8–12B by 2030 | REACH, CLP, CBAM (steel/aluminium) |
| Agro & Food | ~€3.8B | 5–25% | 0–5% (5–10 yrs) | 2026–2036 | €6–8B by 2030 | FSSAI, APEDA, EU MRL, EUDR |
| IT Services | ~€18B* | N/A (services) | Mode 4 mobility | Ongoing | €28B by 2030 | GDPR DPA, ISO 27001, SOC2 |
| Gems & Jewellery | ~€9.2B | 3–5% | 0% (3 yrs) | 2026–2029 | €13B by 2030 | Kimberley, CITES, hallmarking |
| Electronic Goods | ~€2.8B | 0–14% | 0% (3–7 yrs) | 2026–2033 | €6–9B by 2030 | CE, WEEE, RoHS, REACH |
| Leather & Footwear | ~€1.8B | 3.7–17% | 0% (5–7 yrs) | 2026–2033 | €3–5B by 2030 | EUDR due diligence, REACH SVHCs |
| Green Energy | ~€0.5B | 0–3% | 0% | 2026 onwards | €5–8B by 2030 | IEC 61215, TÜV, CE for inverters |
* IT Services are Mode 1 cross-border services. All projections are market estimates based on WTO, ECIPE, and ITC Trade Map modelling. Actual outcomes depend on FTA implementation, ROO compliance, and market development.
India's services exports exceeded merchandise exports on a net basis. IT-BPM alone accounts for $194B. The India–EU FTA's Mode 4 provisions are the most commercially significant services liberalisation India has negotiated.
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⚖️ Legal Disclaimer: This page and the data/information presented herein are for general commercial orientation and informational purposes only. All figures, trade data, tariff rates, regulatory requirements, and timelines are indicative only and subject to change without notice. Nothing on this page constitutes legal, tax, customs, financial, or regulatory advice. Vinod Kumar Jain and Amit Jain / Global Nexus Trade & Advisory are commercial trade intermediaries and not licensed legal advisers, customs agents, financial advisers, or regulatory specialists. Before relying on any information presented, engage qualified legal counsel, a licensed CHA (Custom House Agent), a certified tax adviser, and relevant regulatory specialists in both India and the applicable EU member state. All regulatory thresholds, timelines, and procedures must be independently verified before reliance.
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