Petroleum products, engineering goods drive India’s export growth

Engineering goods, gems and jewellery, and finished petroleum products helped India achieve a compounded annual growth rate (CAGR) of 4.9 per cent in commodity exports between 2015 and 2019.

“Engineering goods and gems & jewellery are the two main exports accounting for 35.5 per cent of total in 2019. But there is a contrast in their shares. Engineering goods share has been fairly stable in the 22-24 per cent range while that of gems & jewellery has come down from 14-16 per cent in the first three years to 11-12 per cent in 2018 and 2019. There has been a decline in CAGR for gems & jewellery while that of engineering has been higher than the overall exports at 6.9 per cent”, a report by CARE Ratings noted.