ROADMAP FOR INDIA’S TRADE

There is huge potential in the export markets that India can explore. There are some products in which India has competitiveness but its share in world exports is quite low, hence indicating untapped potential. A future roadmap for India’s trade should focus on sectors such as electrical manufacturing and equipment (0.4%), pharmaceuticals (2.4%), iron and […]

INDIA’S SERVICES TRADE

India’s services trade has been a major driver of its exports over the past two decades. The country has emerged among the fastest growing nations in global services trade. This sector has not only attracted significant foreign investment flows but also contributed significantly to exports as well as provided large-scale employment.  India’s services sector covers […]

ANALYSIS OF INDIA’S MERCHANDISE TRADE

On closer analysis of India’s merchandise trade, we find that exports and imports have both shown an increase from 2014 to 2018 along with trade deficit as imports have always grown faster than exports for this period. The main reason behind this is the import basket, which mainly consists of intermediate goods and raw material […]

TOP SOURCES OF IMPORT

India’s top 5 import partners over 5 years have been US, UAE, China, Saudi Arabia and Iraq. On the whole, imports have increased from US$ 459.37 billion in 2014 to US$ 507.58 billion in 2018 especially due to a huge increase from Hong Kong. India’s total import value (US$ billion)   2014 2015 2016 2017 […]

TOP EXPORT MARKETS

India’s top 10 export partners over 5 years contributed around 51% of its total exports in 2018. The list of partners and export trends during 2014-2018 are as follows: India’s total export value (US$ billion)   2014 2015 2016 2017 2018 World 317.54 264.38 260.33 295.85 323.06 United States of America 42.68 40.31 41.99 46.06 […]

INDIA’S TRADE BASKET

India was a closed economy in the pre-1991 period with export value at US$ 13.87 billion and import value at US$ 19.35 billion in 1988. With liberalisation, privatisation and globalisation measures being adopted in 1991, there have been various trade reforms such as abolition of import licensing system, phased reduction in custom duty, devaluation of […]