Countries like the United States are significant markets for various components exported from different nations. For instance, India has recently emerged as a key supplier of military equipment, including aircraft and helicopter parts, to the U.S. This is part of India's broader strategy to enhance its defence manufacturing capabilities and increase exports of indigenous defence equipment.

Exports To The United States

In 2022, India's overall exports to the U.S. reached approximately $82.9 billion, marking an annual growth rate of 12.1% over the past five years. By July 2024, this trend continued, with notable increases in specific product categories.

 Key Products:

Auto Components: From March 2023 to February 2024, India exported 24,657 shipments of auto components to the U.S., representing a 16% growth compared to the previous year. In February 2024 alone, there were 1,308 shipments, although this marked a decline of 47% year-on-year compared to February 2023.
Telecom Instruments: Exports surged by 375%, totalling around $320 million in July 2024.
Petroleum Products: Increased by 44.6%, amounting to about $522 million.
Electronics Components: Experienced a remarkable rise of 292%, with exports valued at $158 million.
Gems and Jewellery: This category remains one of the largest, with exports valued at approximately $9.20 billion in FY23.
Pharmaceutical Products: Exports in this sector amounted to around $6.77 billion.
Petroleum Products: India exported about $6.03 billion in petroleum products.
Electrical and Electronics Goods: This category saw exports worth about $5.8 billion
Engineering Goods: Exports reached approximately $11.46 billion, making it another significant contributor to trade with the U.S. 

Additionally, the exports to the US, consisted of sub-systems and components, which include global defence majors like Boeing and Lockheed Martin sourcing fuselage, wings, and other parts of aircraft and helicopters from India as part of their global supply chain networks as well as offset commitments. The TATA Boeing Aerospace venture in Hyderabad, for instance, is making the fuselage and secondary structures for Apache attack helicopters.

The exports involved 277 Indian exporters and 804 U.S. buyers, indicating a diverse trading network.

There are ongoing discussions between India and the U.S. regarding cooperation on critical minerals, which could further enhance trade dynamics.

Software Exports To France

India has also seen a rise in software exports to France. The general trend indicates that India's IT and software services are increasingly sought after not only in France but also in the European markets. The demand for Indian software solutions is driven by France's growing need for digital transformation across various sectors, aligning with global trends of outsourcing and technology integration.

The increase in Indian exports of components to advanced economies like the U.S. and software to France reflects a broader trend of globalization and technological collaboration. This growth not only strengthens India's position as a key player in global trade but also highlights its potential in high-value sectors such as technology and pharmaceuticals.