India’s Trade With G7 Nations Robust, Except Canada: Report
Share of goods exports to G7 nations has increased from 29% in FY20 to 31% in FY25, whereas the share of imports from G7 countries have declined from 18% in FY20 to 15% in FY25
India has experienced a healthy and growing trade relations with G7 nations, outlining deepening economic engagement and cooperation, according to a report by data science company, Rubix.
G7 nations or the Group of Seven (G7) is an intergovernmental political and economic forum consisting of US, UK, Germany, France, Italy, Canada, and Japan.
Over a period, these G7 countries except Canada has emerged as India's top 30 trade destinations, adding to a stable and diversified export-import relationship.
On the exports side, cumulatively India's exports to G7 countries stood at a value of USD 138 billion in FY25, reflecting an increase of 13 per cent CAGR between FY21 and FY25. While imports were at USD 110 billion for the same time period, which is a rise 12 per cent CAGR between FY21 and FY25.
Total trade (exports + imports) with G7 countries cumulatively stood at USD 248 billion in FY25 and has increased at 13% CAGR between FY21 and FY25.
"India had a trade surplus (exports minus imports) of USD 28 billion in FY25 at an aggregate level with G7 countries and this has recorded a 16% CAGR between FY21 and FY25. India enjoys a trade surplus with 4 of the G7 countries namely the US, Italy, France and UK," the report revealed.
Share of goods exports to G7 nations has increased from 29% in FY20 to 31% in FY25, whereas the share of imports from G7 countries have declined from 18% in FY20 to 15% in FY25.
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Sector-wise, Telecom transmission equipment, including mobile phones, and pharmaceuticals are among the most frequently exported products from India to G7 countries. They play an important role in India's trade basket, with their shares ranging from 5% - 16% and 7% - 12% respectively.
Additionally, India's pharmaceutical sector is a key supplier to G7 countries, meeting over 50% of global vaccine needs, 40% of generic demand in the US, and 25% of total medicine consumption in the UK.
Furthermore, India's total mobile phone exports registered a rise of 55 per cent as compared to last year. It hit USD 24 billion in FY25, with smartphones becoming the most exported product to several G7 nations.
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
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