India’s export share has declined in pharma, jewellery, footwear trade

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According to think tank GTRI, India’s export share in global trade in sectors such as pharma, gems and jewelery and leather-footwear is declining. However, on the other hand, it states that the share of exports of electronics, machinery, petroleum, auto parts, iron and steel and aluminum products is increasing. Indian pharma industry accounted for 2.79 percent of world trade in 2015. Which is likely to decrease to 2.25 percent in 2022.

According to the Global Trade Research Initiative (GTRI), India’s share of apparel, leather, footwear and marine products in the global market is declining. The report says that the main reason is quality. According to the report, the country’s share of global trade in electronics, telecom, mobile phones and electric equipment and machinery is increasing. The above sectors account for a significant share of world trade. The total size of which is more than 6 trillion dollars. Historically, India’s share in these sectors has been low. However, it is slowly but surely increasing its share. India’s share of global trade in 2022 was 1.8 percent. However, the country’s share of machinery and electronics in 2015 was 0.75 percent and 0.4 percent, respectively. There has been a slight but significant improvement in the share of these sectors.