NOTE: Iowa Farm Bureau is participating in a Governor's Trade and Investment Mission to India organized by the Iowa Economic Development Authority in September 2024. The goal of the mission is to promote and explore mutually beneficial trade and investment opportunities for India and Iowa. Stay tuned for more updates!

India’s Imports from the World

As the world’s most populous country, India has a growing economy and higher levels of consumer spending. India is one of the world’s largest producers and consumers of various agricultural commodities. India is ranked as the eighth largest global importer of agricultural and related products. In 2023, India’s agricultural import market was valued at $37 billion with nearly half of that being from vegetable oil imports (Figure 1). Tree nuts and pulses (dried beans, chickpeas, etc.) follow as the second and third most valuable imports with $2.80 billion and $2.64 billion, respectively.

Figure 1. Top India Agricultural Imports in 2023

India’s Exports to the World

As the world’s fourth largest agricultural exporter, India is a major player on the global stage. India’s agricultural export market is valued at $52.5 billion (Figure 2). The largest importers of India’s agricultural products are the United States, China, United Arab Emirates, and Bangladesh. Rice and Basmati rice are the largest export products, followed by sugar and spices at $3.93 billion and $3.72 billion, respectively.

Figure 2. Top India Agricultural Exports in 2023

United States Imports from India

According to the USDA-FAS, the United States imported over $3.1 billion of Indian agricultural products. Intermediate products such as vegetable sap, psyllium seed husks, and mucilages and thickeners from guar seeds are the largest agricultural import from India with a value of $591 million. Spices and Basmati rice were the second and third most valued imports at $359 million and $252 million, respectively.

Figure 3. United States Agricultural Imports from India

United States Exports to India

The United States is India’s fifth-largest supplier of agricultural goods, representing 5.2 percent of the total import market. Conversely, in 2023 India was the United States’ 14th largest export destination for agricultural products, a 13% decrease from the previous year. The United States exported $1.1 billion to India in 2023. Ethanol was the second largest export to India at nearly $246 million. Iowa produces the most ethanol in the United States, which is a connection the two markets have. The United States also exported over $231 million of cotton to India in 2023.

Figure 4. United States Agricultural Exports to India