EXHIBIT 1 • THE STRUCTURE OF GLOBAL MERCHANDISE DEMAND ANNUAL GLOBAL IMPORTS ($ BILLIONS)

The World’s Top 10 Imports Total $7.28 Trillion; 55% Are Built in Factories, Not Dug from the Earth

Ranked #1 to #10 by annual global import value, alongside India’s export share

Factory-Built Goods ($4,026B • 55.3%)

Mined & Pumped Commodities ($3,254B • 44.7%)

#	Global Import Category	Origin		World Pool	India Exp.	India Share
1.	Crude Petroleum Oil	Extracted		$1,420B	—	Net Importer
2.	Microchips & Integrated Circuits	Factory		$1,021B	$1.2B	0.1%
3.	Cars & Commercial Vehicles	Factory		$999B	$14.5B	1.5%
4.	Refined Petroleum Fuels	Refined		$891B	$86.0B	9.7%*
5.	Packaged Medicines & Biologics	Factory		$693B	$22.0B	3.2%
6.	Gold (Bullion & Unwrought)	Extracted		$488B	—	Net Importer
7.	Motor Vehicle Parts & Systems	Factory		$456B	$7.2B	1.6%
8.	Natural Gas & LNG	Extracted		$455B	—	Net Importer
9.	Smartphones & Telecom Gear	Factory		$445B	$15.6B	3.5%
10.	Computers, Servers & Storage	Factory		$412B	$0.8B	0.2%
	Subtotal: 6 Factory-Built Categories (55.3% of Top 10)		Driven by engineering, R&D & industrial scale	$4,026B	$61.3B	1.5%
	Subtotal: 4 Extracted & Refined Commodities (44.7%)		Driven by natural resource geology & crude refining	$3,254B	$86.0B*	Net Importer
	Total Top 10 Global Merchandise Imports		~30% of all world merchandise trade ($24.5 Trillion total)	$7,280B	$147.3B	2.0%