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Despite prolonged geopolitical tensions and slowing global trade, India's merchandise exports touched US$ 450.4 billion during 2022–23, which was 6.7% above the previous year's record level. Which sector contributed the largest share in India's merchandise exports?

1. Electronic Goods
2. Petroleum Products
3. Rice
4. Organic and Inorganic Chemicals

Correct answer: Petroleum Products

Solution

India's merchandise export basket is led by petroleum products because refined petroleum exports contribute a very large value share. In 2022–23, this sector remained the largest contributor among the given options.

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