Indian Export Data reveals that India has a total export that has worth 322,291,568.43 dollars. Every year the exports are seen to have a plunge by 36.47 percent. In the year 2020, India had an export rate of around 19.05 billion dollars. India exports products like precious gems, jewelry, engineering products, petroleum products, inorganic & organic chemicals, and electronic goods. In the first two months of the fiscal year of 2020-2021, the exports of India fell by 47.54 percent while totaling 29.41 billion dollars.
Indian custom export data reveals details about shipment and business operations of exports. The data provides details about the shipment data that includes names and statistics of the origin and receiving country. The major fields based upon which this data is made include:
- Date of shipment
- Description of product
- HSN Code
- Name of the foreign country
- Unit of product
- Total value product both in INR and USD
- Port name and address of both origin and receiving countries
All of the information that is found in these data are sourced from authorized departments like Trade associations, customs departments, shipping & logistics companies, government bodies, port authorities, and various other authoritative links.
India Export Data states that India has also made many strides in the export of semi-precious stones, and other precious gems in recent years. The country has also ventured into exports of commodities like mineral oils, fuels & waxes, automobiles, bituminous powder in addition. Other commodities like industrial equipment, machinery, boilers, and nuclear reactors are also some examples that were exported. The main exporting partners of India are like:
Over the last few decades, global trade has shown significant growth and the fruitful multilateral trade agreements have been seen to have played an important role in such expansion. Tariffs on products crossing the international borders have been reduced as a result of the multilateral trade agreements. The foreign exchange of India thus involves both exports and imports and thus the foreign exchange accounts for 48.8 percent of the country’s GDP. The export trade in services of India has been accounted for around 3.4 percent of the global services trade and has shown a growth at a rate of 5.7 percent.
In contrast to the global growth rate that is of 3.50 percent, the export trade in India has increased by 0.87 percent in recent years. The export industry of India generates about 204,955,578,850 dollars in revenue for the country. The export of these goods and services has thus accounted for 19.74 percent of India’s GDP.