India has a developing economy. India had a protected economy and has become one of the major players in the global market, after the liberalization policy in 1991. Historically India has been conducting international trade for centuries through the many sea routes around the country. India is fortunate to produce several products and services that have a demand in the international market. Thanks to modern logistics and improved infrastructure, imports and exports in India have improved tremendously in the last decade. Exports of goods and services today help the Indian economy grow and provide employment. Export data India shows exports contribute 19.64% to India’s economy.
The customs department works under the ministry of finance and charges duties on products that enter or leave the country. Indian custom export data has detailed information about exported commodities leaving the country. The data contains information such as the name and contact details of the importer, product exported out of the country, HS Code, gross quantity, port of dispatch, port of destination, etc. India exports around 97% of commodities (by weight) from major and minor seaports. India has 148 minor ports and 13 major ports. Some of the major ports in India are Kandla port, Jawaharlal Nehru Seaport, Mumbai port, Vishakhapatnam port, and Marmagaon port. You can examine Indian custom export data or custom import data to learn the major exports and imports from each port.
Export data India can show the well-developed regions in the country. The database shows five states namely Maharashtra, Gujarat, Tamil Nadu, and Telangana account for 70% of exports. India’s top exports include petroleum products, packed medicament, gems and jewelry, machinery, and vehicles. Other major exports include rice, spices, iron and steel, and aluminum. Though petroleum exports and gems and jewelry have been affected by global recessions, exports have been high at 28% and 11.1% respectively. Packed medicament exports grew by 18.07% to touch 18.04 billion USD.
Custom import data helps traders study the commodities imported into India. Imports in the last two years have shown a decline in the import of commodities. The import showed a decline of 5.7 % in 2019-20 (467.19 billion USD) and 18.02% in 2020-21(389.18 billion USD). The lower imports could be attributed to the Covid-19 pandemic. Some of the major importing partners of India are China, the United States, UAE, Saudi Arabia, and Iraq.
Importers can use custom import data to learn about the latest market trends. They can learn about the cost of importing a product. They can get a deeper understanding of the import business and identify the latest growth opportunities. Importers use the data to shortlist buyers for negotiating the best price. The easy-to-use database has helped many traders increase their market share.