Led by a surge in the shipment of goods, the Netherlands became India’s third-largest export destination after the US and UAE during April-December 2022. It has taken over major destinations such as the UK, Hong Kong, Bangladesh and Germany, said the Commerce Ministry. India’s trade surplus with the Netherlands has also increased from $1.5 billion in 2017 to $12.3 billion in 2022.
India’s exports, such as petroleum products, electronic items, chemicals and aluminium goods, to the European country rose by about 69 per cent to $13.67 billion during April-December 2022 as against $8.10 billion in the same period previous year, the data showed. In 2021-22 and 2020-21, the outbound shipments from India to the country stood at $12.55 billion and $6.5 billion, respectively. In 2021-22, the Netherlands was the fifth largest destination for Indian exports as against ninth in 2020-21.
The Netherlands has emerged as a hub for Europe with efficient port and connectivity with the EU through road, railways and waterways. Petroleum exports went up significantly. Aluminium, electrical and electronics and pharma exports also contributed significantly.
In the calendar year, India’s exports to the country increased to $18.1 billion in 2022 from $5.5 billion in 2017. The Netherlands is also a major investor in India. In April-September 2022, India received $1.76 billion in foreign direct investment from the Netherlands. It was $4.6 billion in 2021-22.