Majority of exports to China record +ve growth in 2023: Govt data

New Delhi: As many as 90 principal commodities like iron ore, telecom instruments and electronic components exported to China have recorded a positive growth in 2023 out of the total 161 such goods shipped to the neighbouring country, according to commerce ministry data.

These 90 commodities account for 67.7 per cent of India’s export basket to China, while 71 products that have registered a negative export growth in 2023 constitute 32.3 per cent, the data showed.

There are four commodities level where India has improved its export to China by more than $100 million in 2023. They are iron ore (216.8 per cent to $3.33 billion in 2023), cotton yarn (542.6 per cent to $611.17 million in 2023), spices (19.4 per cent to $132.26 million in 2023), and processed minerals (174.19 per cent to $129 million in 2023).

For another fifteen products, the improvement in exports is in the bracket of $10 -100 billion.

These goods include marine products, iron and steel, telecom instruments, vegetable oils, agrochemicals, paper, paper board, drug formulations, biologicals, AC, refrigeration machinery, paint, bulk minerals and ores, and processed vegetables.

India’s exports of telecom instruments and electronic components to China rose by 46.45 per cent and 6.75 per cent to $247.54 million and $156.55 million, respectively, in 2023, the data showed.