International trade barriers are slowly narrowing down and a new era of world trade is emerging global economy export and import trade will play a major role since interdependence between economics on several aspects is increasing. In the economic development of all developing and developed economies, import and export play an important role.
Imports in India averaged 7613.55 USD Million from 1957 until 2018, reaching an all-time high of 45281.90 USD Million in May of 2011 and a record low of 117.40 USD Million in August of 1958.
India is the 17th largest export economy in the world and the 47th most complex economy according to the Economic Complexity Index (ECI). In 2016, India exported $261B and imported $339B, resulting in a negative trade balance of $78B. In 2016 the GDP of India was $2.26T and its GDP per capita was $6.57k.
The top exports of India are Diamonds ($29.4B), Refined Petroleum($22.8B), Packaged Medicaments ($14.6B), Jewellery ($8.48B) and Cars ($5.99B), using the 1992 revision of the HS (Harmonized System) classification.
Its top imports are Crude Petroleum($54.8B), Gold ($22.9B), Diamonds ($19.9B), Coal Briquettes ($12.3B) and Telephones ($10.1B).
The top export destinations of India are the United States ($45.5B), the United Arab Emirates ($15.5B), Hong Kong ($15.5B), China ($10.7B) and the United Kingdom ($8.66B). The top import origins are China($58.9B), the United States ($19.9B), the United Arab Emirates ($18.4B), Saudi Arabia ($17.2B) and Switzerland ($14.8B).
n 2016 India imported $339B, making it the 14th largest importer in the world. During the last five years, the imports of India have decreased at an annualized rate of -5.4%, from $420B in 2011 to $339B in 2016. The most recent imports are led by Crude Petroleum which represents 16.1% of the total imports of India, followed by Gold, which accounts for 6.75%.
India main imports are mineral fuels, oils and waxes and bituminous substances (27 percent of total imports); pearls, precious and semi-precious stones and jewelry (14 percent); electrical machinery and equipment (10 percent); nuclear reactors, boilers, machinery and mechanical appliances (8 percent); and organic chemicals (4 percent).
India’s major import partners are China (16 percent of total imports), the United States (6 percent), the United Arab Emirates (6 percent), Saudi Arabia (5 percent) and Switzerland (5 percent). This page provides the latest reported value for - India Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus, and news.
GETROBIZ is working on to start operation of Import & Export division by September 2019 with the following products:
Raw & processed Agricultural products
India is an agrarian economy and more than 52% of the land area is considered arable. India is among the highest-ranking countries in production volume for various commodities like rice, cotton, and dairy. Agricultural related occupations, including those of the textile sector, account for roughly half of India’s labor market. Consequently, the agricultural sector plays an important role in Indian economics, politics, and society.
The agricultural sector is witnessing a shift from traditional farming to horticulture and to poultry and dairy production. The demand for fresh and processed products of all types is increasing as the population urbanizes, incomes rise, and consumption habits change. The growth of an efficient cold chain network from “farm to fork” will help curb the current spoilage rate of agricultural output while helping producers capture value as products retain quality and give extra benefit to consumers.
According to the latest survey of Industries, there are 37,175 registered food processing units in the country. According to the Ministry of Food Processing Industries, the food processing sector accounts for 1.7% of GDP.