Which country has emerged as India's third largest exports destination during 2022-23, after the US and UAE?

Solution

As per the information given below, the correct answer is option C. 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 $8 billion in 2021-22 to $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 $18.52 billion during 2022-23 as against $12.5 billion in 2021-22. 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.