India has experienced healthy and growing trade relations with G7 nations, outlining deepening economic engagement and cooperation, according to a report by data science company Rubix. The G7, or Group of Seven, is an intergovernmental political and economic forum consisting of the US, UK, Germany, France, Italy, Canada, and Japan.
Over time, all G7 countries except Canada have emerged as India’s top 30 trade destinations, contributing to a stable and diversified export-import relationship. India’s exports to G7 countries stood at a cumulative value of USD 138 billion in FY25, reflecting a 13 percent compound annual growth rate (CAGR) between FY21 and FY25. Imports from these countries reached USD 110 billion during the same period, registering a 12 percent CAGR.
Total trade (exports plus imports) with G7 nations amounted to USD 248 billion in FY25, increasing at a 13 percent CAGR between FY21 and FY25. India recorded a trade surplus of USD 28 billion with G7 countries in FY25, growing at a 16 percent CAGR between FY21 and FY25. The country enjoys a trade surplus specifically with four G7 members: the US, Italy, France, and the UK.
The share of goods exports to G7 nations rose from 29 percent in FY20 to 31 percent in FY25, while the share of imports from these countries declined from 18 percent to 15 percent over the same period. Sector-wise, telecom transmission equipment, including mobile phones, and pharmaceuticals are among the most frequently exported products from India to G7 countries. These sectors hold significant shares in India’s trade basket, ranging from 5 to 16 percent and 7 to 12 percent, respectively.
India’s pharmaceutical sector plays a crucial role globally, supplying over 50 percent of vaccine needs, 40 percent of generic demand in the US, and 25 percent of total medicine consumption in the UK. Additionally, India’s total mobile phone exports surged by 55 percent compared to the previous year, reaching USD 24 billion in FY25. Smartphones have become the most exported product to several G7 nations.
(From ANI)
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