The table given below depicts the composition of India’s exports between 1992-93 and 1994-95 . The changing composition of the export trade is indicative of structural transformation of Indian economy in favour of modernisation. The best indicator of the trend is the

Items | 1992-93 | 1993-94 | 1994-95
Agriculture & allied products | 1.6.9 | 1.8 | 1.5.9
Ores A Minerals | 4. 4 | 3.7
Manufactured floods | 75.5 | 75.6 | 78
Petroleum Products | 2.6 | 1.8 | 1.9

The most direct indicator of structural modernisation in the early-1990s export composition is the rising prominence of manufactured goods. Official analyses of the 1990s show a clear shift in the export mix: manufactured exports remained the dominant sector (around three-quarters of exports) while agriculture’s share fell between 1991–92 and 1994–95, signalling movement away from primary commodities toward industry-led exports [1]. Studies of post‑reform trade also emphasise diversification into higher-value manufactured and processed goods (alongside some growth in petroleum products), reflecting an economy-wide structural shift towards manufacturing and industrial exports rather than merely changes in one commodity’s share [2].

Sources

1. [1] https://www.indiabudget.gov.in/budget_archive/es98-99/chap66.pdf
2. [2] https://gjust.ac.in/portal/upload/b70631a9-134b-4081-8dd9-38da24009fe4.pdf