Netherlands emerges as India's third largest trading partner in 2022-23
The Netherlands has emerged as India's third largest exports destination after the US and UAE during 2022-23 on account of a surge in shipment of goods such as petroleum products, electronic items, chemicals, and aluminium goods, according to the data of the commerce ministry.
India's trade surplus with the Netherlands has also increased from USD 8 billion in 2021-22 to USD 13 billion in 2022-23.
The Netherlands has taken over major destinations such as the UK, Hong Kong, Bangladesh and Germany, the data showed.
India's exports to the Netherlands rose by about 48 per cent to USD 18.52 billion during 2022-23 as against USD 12.5 billion in 2021-22.
In 2021-22 and 2020-21, the outbound shipments to the European country stood at USD 12.55 billion and USD 6.5 billion, respectively. The exports are registering healthy growth continuously since 2000-01, when India's exports to that nation was USD 880 million.
Further, in 2021-22, the Netherlands was the fifth largest destination for Indi