Export and import are an important part of India’s economy. India earns valuable foreign exchange from exports. Exports help to provide employment and improve the profit margins of companies. Imports provide valuable raw materials for manufacturing. It helps to provide resources unavailable in India. Imports help to make domestic products are competitively produced. Indian export data shows that total exports were 18.4% of the GDP. Export and import data shows that total imports were 21.4% of the GDP.
Export import data India the exports of commodities for April 2020 to February 2021 was 256.18 billion USD. India recorded export products valued at 27.67 billion USD in February. Several commodities like oil meals, iron ore, food products, carpets, and pharmaceuticals showed growth in exports. Some products showed negative growth for exports like petroleum products, leather, cashew, and gems and jewelry.
Import and export data shows India’s biggest export trade partners are:-
- precious and semi-precious stones and jewelry
- mineral fuels, oils
- Vehicles and vehicle spare parts
- Nuclear reactors, boilers and mechanical equipment(
- Pharmaceutical products.
According to exporter data India, the top exporting companies in India are:-
- Reliance Industries
- Oil & Natural Gas
- Indian Oil (oil, gas)
- Tata Motors (car/truck maker)
- Tata Steel (iron, steel)
Custom import data shows that India imported commodities worth 340.80 billion USD. In February, oil imports fell to 16.63% to 8.33 billion USD. Oil imports for the fiscal year amounted to 72.08 billion USD a drop of 40.18%. Precious metal is one of India’s top imports. Gold imports in the fiscal year amounted to 27 billion USD.
As per the customs import data, the top ports used for imports in India are:-
- Mineral fuels, oils
- Precious and semi-precious stones and jewelry
- Electrical equipment
- Nuclear reactors and mechanical equipment
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