India Import Data Country Wise

 Imports are commodities or services brought into a country from overseas. The Indian consumer is discerning they demand the best products at the best prices. Importers help get imported commodities into the country. The Indian market provides opportunities to global suppliers. After liberalization when the Indian markets were opened up, multinational companies lined up to import their products to the country. Today Indian Traders use India import data and export data to understand what the market requires. Indian Import Data shows India imported merchandise valued at 389.19 billion USD in 2020–21. The imports fell sharply by 18.02% in the financial year.

India import data is based on bills of material, import bills, etc submitted to the customs department. The database covers seaport, airport, and ICD. This vital data helps Indian Traders find sellers, buyers, product specifications, prices, country of origin, etc. Indian markets can be challenging. Indian traders can analyze the present market scenario and trends with the data and modify their shipments accordingly. The Indian Importer Data can help traders predict changing preferences of the consumer. Indian traders use the analytical Indian Import Data to carry out successful deals.

Traders and financial institutions use Indian Importer Data for fraud prevention and risk profiling. The information allows traders to calculate applicable import duties. Businesses understand the flow of raw materials and products by studying the information. The India import data help imports find the top-selling commodities in the market. The top commodities in India were mineral oil, fuels, and waxes (104 billion USD), electrical machines and equipment (42 billion USD), and pearls and precious gems and metals (41 billion USD). Other major imports of India are chemical fertilizer, cashew nuts, and edible oils. India is the third-largest oil importer in the world. The OPEC countries and Saudi Arabia are the main suppliers of mineral oil, collectively they account for 86% of oil imports in the country. This year imports from the OPEC countries fell sharply as India bought more oil from Canada and the US.

Studying the Indian Importer Data informs us that India’s top import partners are China(58 billion USD), the United States(26 billion USD), the United Arab Emirates (23 billion USD), Saudi Arabia(17.7 billion USD), and Iraq(16.1 billion USD). Most of the leading import partners are from Asia. Other significant import partners of India are Hong Kong, Switzerland, South Korea, Indonesia, and Singapore. India has been trying to reduce dependence on China imports in 2019–20 was 65.26 billion USD.


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