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Foreign Trade In India
Foreign trade is important to the economy because of the country's need
to import a variety of products. India exports a huge number of products
and imports equally a good number of required products.
Export
Exports are the major focus of India's trade policy. Many items are
freely exported from India. Exports during June, 2005 are value at US $
7110.96 million which is 19.04% higher than the level of US $ 5973.68
million during June, 2004.
Major Destinations of Export
| Export
(Value US$ Million) |
| Countries |
2000-01 |
2001-02 |
2002-03 |
2003-04 |
| USA |
9251.55 |
8542.34 |
10924.05 |
11490.30 |
| UAE |
2586.26 |
2500.28 |
3336.12 |
5093.42 |
| Hong Kong |
2635.60 |
2374.42 |
2620.11 |
3258.92 |
| UK |
2275.73 |
2168.23 |
2502.89 |
3041.27 |
| China |
830.03 |
955.19 |
1980.61 |
2967.05 |
| Germany |
1887.42 |
1794.45 |
2112.15 |
2529.07 |
| Singapore |
862.41 |
975.62 |
1425.27 |
2122.14 |
| Belgium |
1456.00 |
1395.36 |
1666.15 |
1810.62 |
| Japan |
1782.20 |
1515.58 |
1868.86 |
1718.88 |
| Italy |
1299.51 |
1210.64 |
1360.60 |
17.08.33 |
| Bangladesh |
874.41 |
1005.59 |
1179.05 |
1650.43 |
| Sri Lanka |
630.48 |
633.04 |
923.37 |
1323.88 |
| France |
1016.88 |
948.22 |
1076.88 |
1293.22 |
| Netherlands |
875.80 |
866.82 |
1050.63 |
1281.11 |
| Indonesia |
394.87 |
535.53 |
828.20 |
1126.19 |
| Saudi Arabia |
809.61 |
829.25 |
943.19 |
1122.93 |
| Spain |
663.03 |
679.51 |
812.59 |
994.10 |
| Iran |
221.96 |
253.89 |
656.43 |
920.02 |
| Malaysia |
601.10 |
776.33 |
751.32 |
891.32 |
| Thailand |
528.69 |
635.29 |
713.04 |
829.62 |
| Total (incl. others) |
44147.44 |
43976.01 |
52856.28 |
63622.50 |
Major Commodities Of Export
| PRODUCTS |
US$
MILLION |
% CHANGE |
% SHARE IN
TOTAL |
|
2002-03 |
2003-04 |
|
2003-04 |
| All Commodities |
52856.28 |
63622.50 |
20.37 |
100 |
| Gems & Jewellery |
9053.38 |
10537.61 |
16.39 |
16.56 |
| Textiles |
5942.47 |
6469.28 |
8.87 |
10.17 |
| Readymade garments |
5704.68 |
6104.53 |
7.01 |
9.59 |
| Drugs, Pharma & fine chemicals |
2567.16 |
3124.83 |
17.60 |
4.91 |
| Machinery & Instruments |
2013.65 |
2778.88 |
38.00 |
4.37 |
| Manufacturer of Metals |
1852.42 |
2414.37 |
30.34 |
3.79 |
| Ores & minerals |
2001.23 |
2346.88 |
17.27 |
3.69 |
| Prim. & semi fin iron & steel |
1625.69 |
2146.13 |
32.01 |
3.37 |
| Leather & leather manufactures |
1853.12 |
2030.69 |
9.58 |
3.19 |
| Transport equipment |
1337.36 |
1897.49 |
41.88 |
2.98 |
| Plastic & linoleum products |
1224.84 |
1743.74 |
42.36 |
2.74 |
| Electronic goods |
1255.99 |
1690.88 |
34.63 |
2.66 |
| Marine Products |
1435.27 |
1323.99 |
-7.75 |
2.08 |
| Dyes & Intermediates |
712.69 |
1024.89 |
43.81 |
1.61 |
| Rubber manufactured products |
485.08 |
587.30 |
21.07 |
0.92 |
Import
The economic needs of the country, effective use of foreign exchange
and industrial as well as consumer requirements are the basic factors
which influence India's import policy. The main objective of import
policy is to make necessary imported goods more easily available and
promote foreign trade.
Imports during April-June,2005-2006 are valued at US $ 32360.13 million
representing an increase of 38.02% over the level of imports valued at
US $ 23445.70 imillion in April-June, 2004-2005.
India's Import of Principle Commodities
| (US
$Million) |
| Products |
2002-03 |
2003-04 |
| 1. |
Petroleum Crude & Products |
17685.31 |
20624.05 |
| 2. |
Electronic goods |
5616.95 |
7515.36 |
| 3. |
Pearls precious & semiprecious stone |
6078.50 |
7147.18 |
| 4. |
Gold & silver |
4299.39 |
6835.41 |
| 5. |
Non electrical machinery |
3574.87 |
4735.14 |
| 6. |
Organic chemicals |
1890.36 |
2758.66 |
| 7. |
Vegetable oils (edible) |
1818.86 |
2547.33 |
| 8. |
Transport equipment |
1902.32 |
2148.18 |
| 9. |
Coal, coke & briquettes |
1242.86 |
1413.65 |
| 10. |
Iron & steel |
884.04 |
1410.98 |
| 11. |
Inorganic chemicals |
1142.66 |
1274.28 |
| 12. |
Metalliferous ores & metal scrap |
1040.48 |
1253.36 |
| 13. |
Textile yarn & fab., made-up articles |
972.87 |
1252.77 |
| 14. |
Professional inst, optical goods etc. |
1136.13 |
1229.67 |
| 15. |
Artfcl. resins, plastic matrls. Etc. |
783.86 |
1082.87 |
| 16. |
Non ferrous metals |
668.25 |
945.00 |
| 17. |
Electrical machinery |
665.82 |
866.14 |
| 18. |
Wood & Wood products |
403.15 |
713.17 |
| 19. |
Manufactures of metals |
489.56 |
689.05 |
| 20. |
Medicinal & pharma. Products |
593.58 |
644.91 |
| 21. |
Chemical material & products |
453.16 |
632.48 |
| 22. |
Fertilizer manufactured |
358.55 |
500.14 |
Major Sources of Import
| Imports
(Value US$ Million) |
| Countries |
2000-01 |
2001-02 |
2002-03 |
2003-04 |
| USA |
2844.37 |
3160.34 |
4455.11 |
4875.49 |
| China |
1494.92 |
2043.33 |
2799.29 |
4059.06 |
| Belgium |
2868.84 |
2772.41 |
3721.56 |
3904.01 |
| Switzerland |
3148.84 |
2880.53 |
2335.92 |
3317.29 |
| UK |
3142.98 |
2571.93 |
2784.22 |
3184.41 |
| Germany |
1751.60 |
2035.01 |
2410.77 |
2918.98 |
| Japan |
1835.52 |
2153.76 |
1841.10 |
2649.26 |
| Australia |
1063.01 |
1310.55 |
1340.26 |
2627.36 |
| Korea Republic (South) |
891.03 |
1145.26 |
1525.96 |
2460.07 |
| Indonesia |
904.42 |
1040.34 |
1384.45 |
2101.80 |
| UAE |
654.42 |
918.21 |
959.48 |
2065.15 |
| Malaysia |
1151.60 |
1137.40 |
1469.22 |
2050.62 |
| Singapore |
1435.68 |
1308.53 |
1438.54 |
2035.33 |
| South Africa |
1019.72 |
1445.80 |
2098.92 |
1896.98 |
| Hong Kong |
838.90 |
731.35 |
975.11 |
1496.52 |
| Italy |
719.96 |
707.18 |
814.09 |
1073.04 |
| France |
627.48 |
847.13 |
1097.02 |
1057.34 |
| Russia |
517.19 |
537.33 |
594.15 |
962.05 |
| Taiwan (Taipei) |
506.98 |
561.18 |
664.45 |
770.91 |
| Total (incl. others) |
50056.27 |
51588.41 |
61571.55 |
77236.66 |
| Source: DGCI&S,
Calcutta |
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