According to the data of the commerce ministry, the Netherlands has become India’s third-largest export destination after the US and the UAE during 2022–2023 as a result of an increase in the shipment of goods including petroleum products, electronic items, chemicals, and aluminium goods.Additionally, the trade surplus between India and the Netherlands expanded from $8 billion in 2021–2022 to $13 billion in 2022–2023.
According to the data, the Netherlands has supplanted important locations including the UK, Hong Kong, Bangladesh, and Germany.
India’s exports to the Netherlands increased by roughly 48% in 2022–2023 from $12.5 billion to $18.52 billion.The amount of goods exported to the European nation in 2021–2022 and 2020–2021 was $12.55 billion and $6.5 billion, respectively. The shipments are being recorded. Since 2000–01, when India’s exports to that country totaled $880 million, there has been steady and strong development.
In addition, the Netherlands ranked sixth in terms of the volume of Indian exports in 2021–22 as opposed to ninth in 2020–21.The Netherlands has established itself as a hub for Europe, according to Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai, with an effective port and access to the EU via roads, railroads, and waterways.India’s exports to the nation climbed from $5.5 billion in 2017 to $18.1 billion in 2022 throughout the calendar year.
The two main petroleum products that India shipped to that nation were ATF (aviation turbine fuel) and diesel, according to the economic research organisation GTRI (Global Trade Research Initiative).
The largest electronic items were cellphones and telecom equipment, both of which had prices exceeding $1 billion. products, it stated.Sharad Kumar Saraf, a Mumbai-based exporter and the chairman of Technocraft Industries, predicted that the trend will persist going forward.
According to Saraf, the Netherlands is a gateway to Europe since their ports are particularly productive, making them more affordable for maritime operations than other European ports.
Diplomatic ties between India and the Netherlands were established in 1947. Since that time, the two nations have established close political, economic, and trade ties.The two countries’ bilateral trade climbed to $24 billion in 2022–2023 from $17 billion in 2021–2022 and roughly $10 billion in 2020–2021, respectively.
The Netherlands, along with Germany, Switzerland, the UK, and Belgium, are among India’s major trading partners in Europe. It invests heavily in India as well. India received $1.76 in this fiscal’s April-September period. billion in direct investment from abroad coming from the Netherlands. In 2021–2022, it was $4.6 billion.
Over 200 Dutch businesses, including Philips, Akzo Nobel, DSM, KLM, and Rabobank, have operations in India. The same is true for the Netherlands, where there are over 200 Indian businesses operating, including all the big IT giants like TCS, HCL, Wipro, Infosys, Tech Mahindra, Sun Pharmaceuticals, and Tata Steel.
