Netherlands emerging key export destination for India
India’s trade surplus with the Netherlands has increased from $1.5 bn in 2017 to $12.3 bn in 2022
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New Delhi: The Netherlands has emerged as India's third largest exports destination after the US and UAE during April-December this fiscal on account of a surge in shipment of goods such as petroleum products, electronic items, chemicals, and aluminium goods.
India's trade surplus with the Netherlands has also increased from $1.5 billion in 2017 to $12.3 billion in 2022. The Netherlands has taken over major destinations such as the UK, Hong Kong, Bangladesh and Germany, according to data of the commerce ministry. India's exports to the Netherlands rose by about 69 per cent to $13.67 billion during April-December 2022 as against $8.10 billion in the same period previous year, the data showed.
In 2021-22 and 2020-21, the outbound shipments to the European country stood at $12.55 billion and $6.5 billion, respectively. The exports are registering healthy growth continuously since 2000-01, when India's exports to that nation was $880 million. Further, in 2021-22, the Netherlands was the fifth largest destination for Indian exports as against ninth in 2020-21. Federation of Indian Export organisations (FIEO) Director General Ajay Sahai said the Netherland has emerged as a hub for Europe with efficient port and connectivity with EU through road, railways and waterways. "Petroleum exports went up significantly. During April-November this fiscal, these exports rose from $2.7 billion during April-November 2021-22 to $6.4 billion as oil companies are using the Netherlands as distribution hub.
