The Composition of India’s Merchandised Exports: 2014-22

Abstract Taking the importance of export led growth strategy for Indian economy, and the changed political regime since 2014 into consideration, the present study intended to assess the changing composition of India’s exports since 2014., with passing reference to its volatility during the said period. Using World Bank (2024) data the study analysed composition in terms two key dimensions i.e. stages of processing and broad group of industries. The study has found that in terms of the former, the composition of India’s exports during the 2014-22 period has remained more or less intact. Hierarchically, consumer goods, is followed by intermediate goods, capital goods and raw materials. Moreover, it’s the export of capital goods have been subject to a high degree of volatility. But when viewed in terms of latter, i.e. the broad group of industries, India’s exports of manufactured goods have been robust while export of chemical goods, machinery and transport equipment grew consistently, highlighting India's manufacturing advancements. Interestingly, fuel exports rebounded post-2020, driven by energy demands. In the rebound of fuel exports, particularly since the beginning of Russia-Ukraine conflict, thanks to the pragmatic policies of the Modi Govt. Nevertheless, the growth of India’s exports in the coming years depend upon the continuance of the various policy measures, from make in India to FTA, adopted by Modi Government from time to time, since 2014. [1] Faculty, Department of Economics, Malwanchal University, Indore (MP) [2] Ph.D Scholar, Department of Economics, Malwanchal University, Indore (MP)