Jeson Clarke

What are India's Key Imports and Exports?

India is a massive player in the world of international trade. While most of India's dealings are with countries in Asia and Africa, many countries across the globe are expressing interest in forming a trade partnership.

That begs the question: What exactly are India's essential imports and exports?

India's Imports

Most of what India is bringing into the country is crude petroleum. The nation spends hundreds of billions a year on it, making crude petroleum the single most significant import across all categories.

Coming in second is precious metals like gold and silver. Precious stones, jewels, and premium electronics follow.

According to India trade statistics, the country receives most of its imports from China. The United Arab Emirates and Saudi Arabia follow in second and third places. Following that are the United States, Switzerland, and Middle Eastern nations like Kuwait, Iraq, and Qatar.

India's Exports

India trade statistics show that the country makes good use of the goods it receives from imports. The largest export is refined petroleum. Other significant exports include fine jewelry. India also exports pharmaceutical products, transportation equipment, machinery, and clothing.

Most exports go to nearby countries in Asia and the Middle East. Data indicates that the United Arab Emirates is one of the country's most prominent trade destinations. However, the United States trails closely behind. The United States is a unique outlier for India, and nations in Asia and Europe are more common than North America.

India in the Global Trade Market

India is not among the most prolific nations for imports and exports on global trade. However, some analysts believe that the country is well on its way. India experienced significant growth in its GDP in recent years. In 2021, the country's overall exports increased by a little more than 44 percent YoY. Despite some resistance in past trade deals, India shows great promise in its delegation moving forward.

While many businesses focus on China and other massive trade partners for suppliers and imports, India could become a significant figure in the future.

Author Resource:-

Jeson Clarke writes about database technologies, import/export data and customs data tools. You can find his thoughts at import export data tool blog.