The composition of India’s exports has seen a considerable change over the years, mirroring the country’s economic transformation and its evolving position in the global market. A number of factors have contributed to these shifts:

Shift From Agriculture To Other Sectors

Historically, agriculture and allied products formed a significant portion of India’s exports. However, this share has declined due to various factors including international competition, price volatility in agricultural commodities, and issues related to quality and compliance with international standards.

This shift could also be seen as a reflection of India’s evolving economy which is moving from being agrarian-based to more diversified, with stronger industrial and services sectors.

Growth In Petroleum, Crude Products, And Other Commodities

The increase in the share of petroleum and crude products can be attributed to India’s refining capacity, which has grown significantly. India exports refined petroleum products even though it imports crude oil.