India's exports to US touch $77.5 billion in FY24, growing at 10.3 % CAGR over 30 years: Report
Bank of Baroda.
Notably, the growth in exports to the US was higher than aggregate exports until FY00. However, the global financial crisis in 2008 slowed down growth until FY10.
Since then, the growth in exports to the US has consistently outpaced the overall export growth, underscoring the growing importance of the American market for Indian exports.
The report highlights that India's exports to the United States have followed a similar trajectory to the country's overall export growth since 1991, when India began economic reforms.
As of FY24, the US accounts for 18 per cent of India's total exports, a rise from 16.4 per cent in FY92 but still below the peak of 22.8 per cent in FY00 (financial year 2000).
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