India's rising electronics, pharma, engineering goods export surge in 2024

 India's exports seem to be promising this year. The latest market trends show rapid growth in India's electronics, pharma and engineering goods exports. According to India import export data, the country's pharmaceutical industry saw tremendous growth with over 487K export shipments from January to April, 2024. 

India's pharmaceutical exports reached a record $5.2 billion in 2024. The United States was the leading market for India's pharmaceutical exports representing over 34% market share. The United States imported over $1.8 billion worth of pharmaceutical items. India's pharmaceutical exports showed frequent rise in the United Kingdom, South Africa, France and Canada.

Sun Pharmaceutical Industries and Zydus Lifesciences are some of the prominent pharmaceutical export companies from India. Whereas, Eversana Life Science, Aurobindo Pharma and Cipla USA were the top pharmaceutical companies importing from India in terms of shipments. 

On the other hand, India’s electronics exports were record $11 billion during this fiscal year. Over 1 million shipments of electronics items were made in 2024. India export data shows the United States as the biggest importer of electronics items from India representing over 79% market share. In 2024, India exported over $422 million worth of electronics items to the USA.

The United Arab Emirates was the second leading destination for India's electronics exports, having 17% market share. Also, there was a significant rise in India's electronics exports to the United Arab Emirates ($91 million), Netherlands ($69 million) and United Kingdom ($64 million). Whereas, Italy, Germany, Czech Republic and Austria were the fastest growing markets for India's electrical exports.

Apple, Foxconn, Samsung, Kuehne + Nagel were among top electronics items importing companies from India shipment wise. Also, there was a surge in India’s engineering goods exports this year. Over 233 shipments of engineering goods from India were recorded in 2024. So far, this year India’s engineering goods exports were estimated to be $664 million. 

The United States was the major importer of engineering goods from India with over $159 million worth imports in 2024. The fastest growing markets for India's engineering goods exports were the United Arab Emirates ($48 million), Saudi Arabia ($46 million), China ($35 million) and Germany ($27 million). Among the leading engineering goods export companies from India were L & K Valves, Flowserve India Controls, Ampo Valves and Koso India.

Also, India’s agricultural exports were on rise this year. India customs data reports suggest $527 million worth vegetable exports whereas fruits exports from India were $666 million in this financial year. In the chemical sector, India’s export earnings were over $8.4 billion this year. Experts are predicting India's chemical exports to reach $29 billion by the end of this year.

Since, India’s exports are growing at a rapid rate this year, Indian import export business can further expand internationally through global import export data providers. Through these reports, Indian companies can track most demanded items globally, competitor shipments, their product price, production quantity, and potential buyers shipments. Based on these insights, Indian companies can map effective business strategies and achieve their targeted ROI.