Imports and Exports in India
Updated on Wednesday 20th December 2017
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India is one of the world’s largest exporters, being the 18th economy in this sense (at the level of 2016). Starting a company in India that performs import-export activities could be an attractive way on entering this market, especially in the top business activities carried out in this field (export of petroleum products, diamonds and jewelry). Our team of specialists in company formation in India can advise foreign businessmen on the main procedures related to opening an import-export business.
Trading activities in India
India was also affected by the economic crisis that took place in 2009, which had a negative impact on the value of import-export activities. Since then, the sector increased and at the level of 2016, the Indian exports developed by 47,7%. Investors who want to register a company in India in this sector should know that Indian exports represent approximately 3% of the country’s gross domestic product (GDP), as presented by the data of the International Monetary Fund (IMF). IMF stated in its World Economic Outlook Database for October 2016 that the GDP stood at $ 8,721 trillion.
Exports in India in 2016
In 2016, certain products manufactured in India had the highest demand on external markets and important increases were observed for the export of vehicles (increase of 162,2% compared to 2009) and pharmaceutical products (160,3%).
On a year to year basis, the following products represented the top Indian exports:
• gems and precious metals (16,5% of the total exports);
• oil and mineral fuels (10,6%);
• vehicles (5,7%);
• machinery (5,2%);
• pharmaceuticals (5%).
There are special regulations related to the Indian exports that are imposed depending on the specific business activity developed by a company in India and our team of agents can provide in-depth advice on a specific economic field.
Imports in India
The top imports in India were concluded with companies providing the following products:
• mineral fuels and oil;
• gems and precious metals;
• electrical machinery;
• machinery (including computers);
• organic chemicals.
The top trading partners for India in terms of exports are the United States of America and the United Arab Emirates, while the top import activities are concluded with China and the United States of America. Investors may contact our team of consultants in company registration in India for more details on the trading agreements signed with partner countries.