Summary: The article contains information about the export-import business in India, we explain what is export-import data India? What are the advantages of export-import data India? The year-wise analysis of the trade deficit will give key insights on trade in India. What is Indian custom export data? And what is the Indian importers’ list? The article elaborates on top trade partners and top imported and exported commodities.
India is the sixth-largest economy in the world. India embarked on a program to promote self-sufficiency after independence in 1947. The government had a policy of severe restriction on imports with high import duty. In 1991, external and internal factors, the government of India decided to open up the economy. The export-import data India shows that in 1991 customs duty was 200% was reduced to 45%. Imports, exports, foreign direct investments increased and resulting in economic growth. Presently export-import data India, total exports 18.9% of the GDP, and total imports was 21.8% of the GDP. The data shows developed regions in Indian customs export data show 70% of exports in India are from Maharashtra, Gujarat, Karnataka, Tamil Nadu, and Telangana.
What is export-import data India?
We collect export-import data India from every shipment entering or leaving the country. The data answer 4 Ws of international trade –
- Who is importing or exporting?
- What quantity and cost?
- When was the commodity shipped?
- Where? Ports and countries involved in the transaction.
We create the export-import data India from the documentation required for export-import business. The export-import data India contains the date of shipment, HSN Code of the product and the product description, the unit quantity and total quantity of the shipment, FOB Value in INR and USD, the importers and exporters in the transaction along with their contact details, The country, and port importing or exporting the commodity and the Indian port used, and the mode of transportation.
Advantages of export-import data India
Importers and exporters require genuine export-import data India to succeed in international trade. Traders plan an effective product marketing strategy. They use the extensive database to find authentic importers, exporters, or manufacturers. Exporters can export-import data India to price their products, and importers can use it to negotiate.
Export-import data India gives importers and exporters insight into the latest marketing trends. Historical data helps them discover trading patterns and predict changes in customer preferences. Importers and exporters can use export-import data India to increase their market share.
Detailed analysis of export-import data India allows traders to monitor the business of their rivals. Importers and exporters, who want to diversify, study the data to find new products to buy or sell.
Manufacturers examine the export-import data India to find alternative sources to procure their raw materials. They can get an in-depth understanding of the supply chain for commodities. Logistic providers use the data to find new clients to expand their business. Financial institutes use the export-import data India to understand the volatile export and import trade. They can do a risk assessment before offering services. Market analysts use export-import data India, to analyze the import-export trade and market potential.
The export-import data India year-wise data shows the trade deficit has been reducing progressively. The trade deficit in 2020-21 was 98.56 billion USD. The trade deficit in 2019-20 was 161.35 billion USD, while the trade deficit in 2018-19 was 180.3 billion USD. India’s top trade partners as per export-import data India are China, the US, UAE, Saudi Arabia, and Iraq. China overtook the US in 2020-21 to become India’s largest trade partner, as per export-import data India the total trade 87.6 billion USD.
What is Indian customs export data?
Indian customs export data shows the commodities exported from India. You can explore the data by HS Code and product description. Indian customs export data shows that India exported commodities worth 290.63 billion USD in 2020-21. The exports in the financial year were impacted because of the Covid-19 pandemic. As per Indian custom export data, exports were sluggish in the first quarter; exports fell to 10.30 billion USD in April 2020. The exports made a recovery in September 2020, when India exported products worth 27.5 billion USD. Indian custom export data showed a recovery in the fourth quarter, with exports touching a high of 34.45 billion USD in March 2021. The Indian custom export data of 2019 was 314.31 billion USD.
The Indian customs export data shows the top exports of India are mineral fuels, oils, and other product of their distillation (27 billion USD), Pearls, precious and semi-precious stones, precious metals and jewelry (24 billion USD), Pharmaceutical products (18.4 billion USD), Nuclear reactors, boilers, machinery, and appliance (17.9 billion USD), and Organic Chemical (17.4 billion USD). Major exports according to Indian customs export data are electrical machinery and equipment, vehicles, iron and steel, and cereals. Pharmaceutical exports grew at a brisk pace in 2020-21at 12.5%.
According to the Indian customs export data shows that India’s biggest export partner is the United States. India exporting goods worth 49 billion USD in 2020-21, however exports from the US reduced significantly from 54 Billion USD. Other major exports partner China (19 billion USD), United Arab Emirates (17.9 billion USD), Hong Kong (9.53 billion USD, and Singapore (8.29 billion USD). Indian customs export data shows exports to China increased to 20.86 billion USD.
According to the export-import data India shows the top ports for trading in India are Nhava Sheva Sea, Chennai Sea, Mundra Sea, Bombay Sea, and Kandla Sea.
What is the Indian Importers List?
No country is fully self-sufficient and must import products. In 2020-21 India imported commodities worth 388.92 billion USD. India importers list shows that India imports goods that are essential for the economy. It also imports commodities that are unavailable in the domestic market, or the products are cheaper when manufactured in another country. Indian importers list shows India imported large quantities of mineral fuels, mineral oil every year. In 2020-21 India imported 104 billion USD. The Indian importers’ list shows the major importers for mineral oil and fuel are oil – Reliance Industries, Indian Oil, Bharat Petroleum, Hindustan Petroleum, and Oil Natural Gas Corporation.
The other major imports of India are:-
- Electrical machinery, equipment, and accessories (42 billion USD). Some of the top importers from the Indian importers list are Universal Exim Solutions, Savio India Limited, and East India Bearing Co Pvt. Ltd.
- Pearls, precious and semi-precious stones, precious metals (41 billion USD). Indian importer list shows some of the top importers for gold are Rajesh Exports, Edelweiss Precious Metals, RiddiSiddhi Bullions, MD Overseas, and Zaveri & Co.
Other major imports as per the Indian importers list are nuclear reactors and machinery and organic chemicals. Major importers according to the Indian importer list are Adani Enterprises, Vedanta Group, and JSW. India’s import partners as an Indian importer list are China (58 billion USD), The United States (26 billion USD), United Arab Emirates (23 billion USD), Saudi Arabia (17.7 billion USD), and Iraq (16.1 billion USD). The export-import data India has shown imports from China are at 5 year low.