India’s overseas shipments to top 10 destinations worldwide which include the countries like US, Japan, Hong Kong and UAE have gained strength in the passing financial year. According to the industry body, the PHD Chamber of Commerce and Industry (PHDCCI), the country’s share of exports to top 10 destinations grew to 51.6 per cent in the financial year 2016-17 from 49 percent in the financial year 2013-14.
The country's merchandise exports to the US registered a growth of 8 percent to $42.33 billion in 2016-17 from $39.14 billion in 2013-14. Over the 50 percent of exports to US include consumer goods, followed by intermediates, capital goods and raw materials.
The PHDCCI further noted that the country’s exports to Hong Kong also increased by 11.2 per cent to $14.2 billion in 2016-17. Going ahead, the industry body is hoping that the exports will touch $325 billion mark in the current financial year.