Question
Which country has emerged as the third largest major
trading partner of India according to the data provided by the Ministry of Commerce?Solution
According to the data provided by the Ministry of Commerce,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 aluminum goods. 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. 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.
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