Top three commodities by percentage contribution in India’s export growth of $400bn are: 1. Engineering goods 2. Petroleum products 3. Gems and Jewellery 4. Rice Which of the following are correct statements?

Commodities

• India's yearly merchandise exports have surpassed $400 billion for the first time, surpassing the government's goal 9 days earlier than expected.
• India has been exporting commodities worth more than $1 billion every day, and the government is hopeful that by March 31 it will have reached $410 billion in exports.

Top 10 Commodities

Engineering goods – including iron and steel products, industrial machinery, and automobiles – are India’s top export this fiscal. These are India’s top 10 export commodities:

• Engineering goods
• Petroleum products
• Gems and jewelry
• Organic and inorganic chemicals
• Drugs and pharmaceuticals
• Electronic goods
• Cotton yarn/fabrics/made-ups, handloom products etc
• Ready-made garments (RMG) of all textiles
• Marine products
• Plastic and linoleum
• Hence except 4, all options are correct.

Additional information

FY 2023-24 Projections

• Despite persistent global challenges like the Ukraine war, and the West Asian crisis, overall exports are estimated to surpass last year’s record.
• India’s overall exports (merchandise + services) are estimated to reach USD 776.68 billion.
• This represents a positive growth of 0.04% over the previous fiscal year (FY 2022-23).
• Despite global challenges, this figure slightly edges out the USD 776.40 billion recorded in FY 2022-23.

Key contributors to merchandise export growth include

• Electronic Goods
• Drugs & Pharmaceuticals
• Engineering Goods