That dollar amount reflects a 60.4% increase compared to $275.5 billion five years earlier in 2020.
Year over year, the total value of goods exported from India slowed to a 2.4% gain from $431.4 billion starting in 2023.
Based on the average exchange rate for 2024 on a Purchasing Power Parity basis, the Indian rupee depreciated by -1.4% from 2023 to 2024. India’s weaker local currency makes Indian exports paid for in stronger US dollars relatively less expensive for international buyers starting from US currency.
India ranks among world-leading countries exporting diamonds, jewelry and refined petroleum.
India’s Best International Customers
The latest available country-specific data shows that 56.0% of products exported from India was bought by importers in: United States of America (18.3% of the Indian total), United Arab Emirates (8.5%), Netherlands (5.6%), Singapore (3.6%), mainland China (3.4%), United Kingdom (3.2%), Saudi Arabia (2.8%), Bangladesh (2.6%), Germany (2.4%), Italy (1.92%), South Africa (1.87%) and Malaysia (1.85%).
From a continental perspective, 41.1% of India’s exports by value was delivered to fellow Asian countries while 23% were sold to importers in Europe. India shipped another 20.7% worth of goods to buyers in North America.
Smaller percentages went to customers in Africa (9.9%), Latin America (3.4%) excluding Mexico but including the Caribbean, then Oceania (2%) led by Australia and New Zealand.
Given India’s population of 1.442 billion people, its total $441.8 billion in 2024 exported products translates to roughly $310 for every resident in the vast South Asian country. That dollar metric represents a slight increase from an average $300 per capita in 2023.
India’s Top 10 Exports
The following export product groups categorize the highest dollar value in Indian global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from India.
- Mineral fuels including oil: US$75.4 billion (17.1% of total exports)
- Electrical machinery, equipment: $40.2 billion (9.1%)
- Machinery including computers: $32.5 billion (7.4%)
- Gems, precious metals: $29.9 billion (6.8%)
- Pharmaceuticals: $23.3 billion (5.3%)
- Vehicles: $22.1 billion (5%)
- Organic chemicals: $21 billion (4.7%)
- Cereals: $12.1 billion (2.7%)
- Iron, steel: $10.3 billion (2.3%)
- Articles of iron or steel: $10.1 billion (2.3%)
India’s top 10 export product categories approached two-thirds (62.7%) of the overall value of its global shipments.
Electrical machinery and equipment represent the fastest grower among the top 10 export categories, up by 24.3% from 2023 to 2024.
In second place for improving export sales was machinery including computers via a 10.9% advance.
India’s shipments of pharmaceuticals posted the third-fastest gain in value, up by 9.5%.
The leading decliner among India’s top 10 export categories was mineral fuels including oil, pulled down by a -15.6% year-over-year retreat.
Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level.
For a more granular view of exported goods at the four-digit HTS code level, see the section below.
Searchable List of India’s Most Valuable Export Products
At the more granular four-digit HTS code level, the following searchable table displays 100 of the most in-demand goods shipped from India during 2024. Shown beside each product label is its total export value then the percentage increase or decrease since 2023.
| Rank | Indian Export Product | Value (US$) | Change |
|---|---|---|---|
| 1 | Processed petroleum oils | $70,298,626,000 | -17.3% |
| 2 | Phone devices including smartphones | $22,083,678,000 | +41.2% |
| 3 | Medication mixes in dosage | $20,920,158,000 | +11.1% |
| 4 | Diamonds (unmounted/unset) | $14,393,405,000 | -20.7% |
| 5 | Jewelry | $12,267,337,000 | -3.4% |
| 6 | Rice | $11,824,356,000 | +13% |
| 7 | Automobile parts/accessories | $7,528,216,000 | +6.9% |
| 8 | Cars | $6,982,113,000 | +3.8% |
| 9 | Aircraft, spacecraft | $6,034,549,000 | +1109% |
| 10 | Heterocyclics, nucleic acids | $5,362,023,000 | +31.5% |
| 11 | Turbo-jets | $5,061,740,000 | +25.1% |
| 12 | Aluminum (unwrought) | $4,831,759,000 | +1.5% |
| 13 | Crustaceans (including lobsters) | $4,508,289,000 | +1.5% |
| 14 | Packaged insecticides/fungicides/herbicides | $4,206,800,000 | -2.7% |
| 15 | Frozen beef | $3,555,538,000 | +11.6% |
| 16 | Yarn (85%+ cotton) | $3,357,821,000 | -4% |
| 17 | Motorcycles | $3,161,180,000 | +20.8% |
| 18 | Women's clothing (not knit or crochet) | $3,026,002,000 | +5.1% |
| 19 | Electrical converters/power units | $3,023,684,000 | +6% |
| 20 | Rubber tires (new) | $2,970,088,000 | +11.6% |
| 21 | Iron ores, concentrates | $2,756,247,000 | -23.6% |
| 22 | Coal tar oils (high temperature distillation) | $2,753,613,000 | +61.4% |
| 23 | Cruise/cargo ships, barges | $2,697,007,000 | +140.5% |
| 24 | Iron ferroalloys | $2,636,845,000 | -13.2% |
| 25 | Synthetic organic coloring | $2,377,249,000 | +13.5% |
| 26 | Taps, valves, similar appliances | $2,375,939,000 | +12.2% |
| 27 | T-shirts, vests (knit or crochet) | $2,324,998,000 | +11.1% |
| 28 | Sugar (cane or beet) | $2,263,539,000 | -39.2% |
| 29 | Insulated wire/cable | $2,191,122,000 | +9.1% |
| 30 | Unglazed ceramic flags, tiles, cubes | $2,165,719,000 | -11.2% |
| 31 | Transmission shafts, gears, clutches | $2,112,569,000 | +6.7% |
| 32 | Linens | $2,054,654,000 | +14.5% |
| 33 | Miscellaneous furnishings | $1,981,751,000 | +7.2% |
| 34 | Cyclic hydrocarbons | $1,899,431,000 | +2.8% |
| 35 | Footwear (leather) | $1,803,327,000 | -1.8% |
| 36 | Solar power diodes/semi-conductors | $1,797,127,000 | -6.7% |
| 37 | Miscellaneous iron and steel structures | $1,796,921,000 | +3.5% |
| 38 | Blood fractions (including antisera) | $1,625,037,000 | -3.1% |
| 39 | Piston engine parts | $1,615,026,000 | +2.6% |
| 40 | Cases, handbags, wallets | $1,581,337,000 | +2.8% |
| 41 | Hot-rolled iron or non-alloy steel products | $1,578,456,000 | -21% |
| 42 | Light vessels, fire boats, floating docks | $1,497,714,000 | -21.7% |
| 43 | Liquid pumps and elevators | $1,488,550,000 | +12.7% |
| 44 | Electro-medical equip (e.g. xrays) | $1,439,264,000 | +3.7% |
| 45 | Pepper (dried/crushed/ground) | $1,433,627,000 | +1.3% |
| 46 | Miscellaneous iron or steel items | $1,431,715,000 | +11.7% |
| 47 | Air or vacuum pumps | $1,424,939,000 | +2% |
| 48 | Trucks | $1,408,587,000 | -13.3% |
| 49 | Machinery parts | $1,404,156,000 | +8.1% |
| 50 | Synthetic precious stones | $1,401,202,000 | -7.7% |
| 51 | Unmanufactured tobacco, tobacco waste | $1,393,061,000 | +44% |
| 52 | Plastic plates, sheets, film, tape, strips | $1,390,230,000 | +18.8% |
| 53 | Aircraft or spacecraft parts | $1,384,547,000 | -2.3% |
| 54 | Heavy machinery (bulldozers, excavators, road rollers) | $1,366,725,000 | +16.9% |
| 55 | Electric motor parts | $1,294,116,000 | +13.1% |
| 56 | Lower-voltage switches, fuses | $1,291,319,000 | +17.5% |
| 57 | Print/write/draw inks | $1,289,813,000 | +578% |
| 58 | Engines (diesel) | $1,286,761,000 | -1.3% |
| 59 | Other organic compounds | $1,268,750,000 | -5.8% |
| 60 | Flat-rolled iron or non-alloy steel products (plated/coated) | $1,263,321,000 | -5.4% |
| 61 | Miscellaneous cast iron or steel items | $1,232,665,000 | -0.6% |
| 62 | Electric circuit parts, fuses, switches | $1,230,291,000 | +26.9% |
| 63 | Miscellaneous machinery | $1,221,702,000 | +12% |
| 64 | Fixed vegetable fats/oils | $1,212,851,000 | +7.8% |
| 65 | Miscellaneous furniture | $1,211,965,000 | +7.2% |
| 66 | Electrical energy | $1,185,794,000 | -20.6% |
| 67 | Woven cotton fabrics | $1,156,732,000 | -6.5% |
| 68 | Plastic packing goods, lids, caps | $1,144,950,000 | +13.4% |
| 69 | Monument/building stones, art | $1,141,661,000 | -1.7% |
| 70 | Tractors | $1,131,182,000 | +2.1% |
| 71 | Coffee | $1,130,669,000 | +51.3% |
| 72 | Men's suits, trousers (not knit or crochet) | $1,115,357,000 | +10.8% |
| 73 | Aluminum oxide/hydroxide | $1,110,523,000 | +31.3% |
| 74 | Women's shirts (not knit or crochet) | $1,103,397,000 | +8.7% |
| 75 | Stainless steel bars, rods | $1,086,276,000 | -6.3% |
| 76 | Packing sacks, bags | $1,080,795,000 | +10.9% |
| 77 | Men's shirts (not knit or crochet) | $1,076,525,000 | +2.9% |
| 78 | Antibiotics | $1,073,835,000 | +6.7% |
| 79 | Motorcycle parts/accessories | $1,062,987,000 | +14.6% |
| 80 | Infant clothing (knit or crochet) | $1,049,635,000 | +18% |
| 81 | Centrifuges, filters and purifiers | $1,037,984,000 | +12.3% |
| 82 | Computers, optical readers | $1,012,349,000 | +146.4% |
| 83 | Iron or steel pipe fittings | $1,006,776,000 | +10.2% |
| 84 | Vegetable saps, extracts | $997,753,000 | +16.1% |
| 85 | Temperature-change machines | $984,439,000 | +10% |
| 86 | Soya-bean oil-cake, other solid residues | $979,735,000 | -12.2% |
| 87 | Coriander, cumin or caraway seeds, juniper berries | $970,831,000 | +19.5% |
| 88 | Amine-function compounds | $937,774,000 | +17.7% |
| 89 | Cotton (uncarded, uncombed) | $920,968,000 | +21.9% |
| 90 | Essential oils | $911,977,000 | +0.4% |
| 91 | Iron and steel tubes, pipes | $904,195,000 | +17.4% |
| 92 | Electrical/optical circuit boards, panels | $903,467,000 | +25% |
| 93 | Tracksuits, swimwear (not knit or crochet) | $897,565,000 | +0.2% |
| 94 | Lead (unwrought) | $896,721,000 | +25.9% |
| 95 | Miscellaneous plastic items | $884,983,000 | +13.3% |
| 96 | Synthetic filament yarn | $880,775,000 | +11.7% |
| 97 | Electric storage batteries | $873,417,000 | +15.1% |
| 98 | Iron and steel screws, bolts, nuts, washers | $864,850,000 | +7.9% |
| 99 | Unroasted ground-nuts | $852,259,000 | -2.6% |
| 100 | Electric motors, generators | $843,718,000 | +14.2% |
These 100 exported goods were worth a subtotal of US$326.2 billion or nearly three-quarters (73.8%) by value for all products exported from India during 2024.
Products Generating India’s Greatest Trade Surpluses
The following types of Indian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports is the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Pharmaceuticals: US$20.5 billion (Up by 9.7% since 2023)
- Vehicles: $14.2 billion (Up by 8%)
- Cereals: $11.8 billion (Up by 5.6%)
- Clothing, accessories (not knit or crochet): $7.3 billion (Up by 5.5%)
- Knit or crochet clothing, accessories: $6.8 billion (Up by 14.2%)
- Fish: $5.9 billion (Down by -3.6%)
- Miscellaneous textiles, worn clothing: $5.4 billion (Up by 14.4%)
- Cotton: $5.3 billion (Down by -6.1%)
- Articles of iron or steel: $5 billion (Up by 5.5%)
- Coffee, tea, spices: $4.1 billion (Up by 25.8%)
India has highly positive net exports in the international trade of drugs and medicines. In turn, these cashflows indicate India’s strong competitive advantages under the pharmaceuticals-related product category.
Products Causing India’s Biggest Trade Deficits
India incurred an overall -US$260.6 billion trade deficit for all products during 2024, expanding by 8.4% from -$240.6 billion in red ink one year earlier for 2023.
Below are exports from India that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country India’s goods trail Indian importer spending on foreign products.
- Mineral fuels including oil: -US$145.2 billion (Up by 10.6% since 2023)
- Gems, precious metals: -$53.4 billion (Up by 36.4%)
- Electrical machinery, equipment: -$44.8 billion (Up by 2.4%)
- Machinery including computers: -$29.1 billion (Up by 4.8%)
- Animal/vegetable fats, oils, waxes: -$15 billion (Up by 2.5%)
- Plastics, plastic articles: -$13.8 billion (Down by -10.8%)
- Optical, technical, medical apparatus: -$8.6 billion (Up by 14.1%)
- Copper: -$8.4 billion (Up by 22.8%)
- Fertilizers: -$7.6 billion (Down by -25.8%)
- Iron, steel: -$7.3 billion (Up by 3.5%)
India has highly negative net exports and therefore deep international trade deficits for mineral fuels including oil, historically crude oil, coal and petroleum gases.
These cashflow deficiencies clearly indicate India’s competitive disadvantages in the international mineral fuels-related market but also represent key opportunities for India to improve its position in the global economy through focused innovations for pertinent goods.
India’s Major Export Companies
India places over 50 corporations on the Forbes Global 2000 rankings. Many of these are major Indian export companies. Below is a selection of some of the biggest Indian corporations.
- Reliance Industries (oil, gas)
- Tata Motors (cars, trucks)
- Indian Oil (oil, gas)
- Coal India (diversified metals, mining)
- ITC (tobacco)
- Bharat Heavy Electricals (electrical equipment)
- Hindalco Industries (aluminum)
- Tata Steel (iron, steel)
- Bharat Petroleum (oil, gas)
- Hindustan Petroleum (oil, gas)
- Sun Pharma Industries (pharmaceuticals)
- Steel Authority of India (iron, steel)
- Bajaj Auto (recreational products)
- Hero Motocorp (recreational products)
- Grasim Industries (construction materials)
- JSW Steel (iron, steel)
In macroeconomic terms, India’s total exported goods amount to 2.8% of its overall Gross Domestic Product for 2024 ($16.02 trillion valued in Purchasing Power Parity US dollars). That 2.8% for exports to overall GDP per PPP in 2024 compares to 3.2% in 2023. Those percentages suggest India’s relatively decreasing reliance on products sold on international markets for its total economic performance, albeit based on a short timespan.
Another key indicator of a country’s economic performance is its unemployment rate. India’s unemployment rate was 8.3% at December 2024, up from 7.4% for January 2024 according to Trading Economics metrics.
See also India’s Top 10 Imports, India’s Top Trading Partners, Top Indian Trade Balances and India’s Top 10 Major Export Companies
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles, Central Intelligence Agency. Accessed on March 22, 2025.
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 22, 2025
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 22, 2025
International Trade Centre, Trade Map. Accessed on March 22, 2025
Investopedia, Net Exports Definition. Accessed on March 22, 2025
Organisation for Economic Co-operation and Development (OECD), Purchasing power parities (PPP). Accessed on March 22, 2025
Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on March 22, 2025
Wikipedia, List of Companies of India. Accessed on March 22, 2025
Wikipedia, Gross domestic product. Accessed on March 22, 2025
Wikipedia, Purchasing power parity. Accessed on March 22, 2025
X-rates.com, Exchange Rates: Indian Rupee to US Dollar (monthly average 2024). Accessed on March 22, 2025