In the fiscal year 2023-2024, the northwestern European nation Netherlands became India’s 3rd largest export destination after the USA and UAE, despite the decline in India merchandise shipments by almost 3%.
The main commodities which led to healthy export growth in the Netherlands include electrical goods, chemicals, petroleum products and pharmaceuticals. With $14.29 billion worth of exports in the last fiscal year, petroleum products became the most important commodity.
India’s trade surplus with the Netherlands in the last fiscal has risen to USD 17.4 billion from the earlier USD 13 billion in fiscal year 2022-2023.
Netherlands, as mentioned by trade experts, is an important hub for Europe due to its well constructed roads, train and water connections to the rest of European Union countries and efficient port infrastructure.
Due to the strategic location and better transportation connections, Netherlands has become an important entry point for the entrance of Indian goods into the European Continent.