The export-import business in India is growing at a brisk pace. Exports earn important foreign revenue for the government. It can lead to job creation and help a company increase market share beyond domestic borders. Imported commodities introduce new products and the latest technology to a country. It helps to raise the standard of living. Another benefit of imported commodities reduces manufacturing costs. Local manufacturers improve the quality of production to compete with imported products. India export import data shows that India’s export rank is 180 and import rank is 15.
Traders use the export import data to improve profitability and for market analysis. Traders can learn the prevailing market rates, companies trading in the commodity, and volumes traded to ensure their business runs smoothly. Businesses can contact potential buyers. They can use the data to shortlist dealers that are interested in business in a new country. Before they join a new market they can study prevailing market conditions in the country. Importers and exporters use export-import data to collect information about their business rivals. International trade is competitive and it vitals they are alert to changing scenarios.
India has a large peninsular and has a long coastline. There are 200 minor ports and 13 major ports in the country. As per India export-import data, the top ports are Jawaharlal Nehru Port Trust, Mundra Port, Chennai Port, and Kolkata port.
India export import data is a combination of export and import data. We create the database from shipping documents. It contains HSN code, description of the product, price of the commodity, the quantity of the shipment, Shipment date, exporters with contact details, importers with contact details, port, and country of export, port, and country of import, and mode of shipment.
Import and Export Data from India can reveal vital information about the Indian economy. We can learn about India’s top trade partners. The top trade partners of India are China, the United States of America, the United Arab Emirates, Saudi Arabia, and Iran. In 2020-21 China overtook the US to become India’s top trade partner.
As per export and import data from India, in 2020-21 commodity exports 290.63 billion USD and imports 389.18 billion USD. India has a diversified export portfolio. India’s biggest exports in the financial year were mineral fuels and oils, pearls, gems, and jewelry, pharma products, machinery, and organic chemicals. Today India is one of the leading exporters of petroleum products, jewelry, and medicinal products. India’s top imports are mineral fuels, oils, and waxes, gems, electrical machinery, precious metals, and pearls, mechanical equipment, and organic chemicals.
Related Post : Authentic indian export and import data
