The changing pattern of rice exports were estimated by obtaining the transitional probability matrices for the annual export data of rice (in terms of quantity) for the period 2000-01 to 2014-15 and competitiveness of Indian rice in the international market during the period 2012-13 to 2014-15. The results of Markov chain analysis showed that Bangladesh is the most stable market of rice as it could retain its share of 38.26 per cent followed by Benin with 29.92 per cent retention and UAE with 14.05 per cent of its original share, while Sri Lanka, Nepal and Saudi Arabia were unstable importers as they could not retain their original share. The analysis of export competitiveness revealed that the Indian rice has moderate degree of competitiveness as Nominal Protection Coefficients during all the years studied ranged between 0.5 to 1.0.