India import and export information – General Information

India is the 5th biggest economy in the world has a population of 1.35 billion people. India has an incredible 447 languages but the offical languages are Hındi and English. Nomınal gross domestic product (GDP) was estimate to be $3.2 trillion for 2020 with per capita income of $2,338, the 139th highest in thw world. The currency is the Rupee and the time is UTC +05.30 (IST).

India import and export information – Sector by percentage

Agriculture – 15.4%

Industry – 23%

Services – 61.5%

Agriculture remains a very important sector of the Indian economy but it is declining as a share of the overall economy. Around 50% of the population still depend on agriculture for their income. In recent years there has been a shift towards ‘cash crops’ such as sugar cane and rubber and food processing is for the first time emerging as part of the agriculture.

The industrial sector in India has benefited from a reduction in red tape and government reforms to promote both domestic and international investment such as ending government monopolies. India has also seen a shift from the production of raw materials like iron and steel to producing end products such as automobiles.

The service sector has benefited most from new government initiatives which have seen sectors such as banking, finance, healthcare, tourism and IT grow. These sectors have seen double digit growth.

To read more visit https://www.investindia.gov.in/team-india-blogs/indian-economy-overview

India import and export information – Main categories

India main exports by category:

• Mineral fuels
• Gems, precious metals
• Machinery including computers
• Chemicals
• Vehicles
• Pharmaceuticals
• Electronic equipment
• Iron and steel
• Clothing

India main imports by category:

• Mineral fuels/oil
• Gems and precious metals
• Electrical machinery
• Machinery including computers
• Chemicals
• Plastics
• Iron and steel
• Animal fats and oils
• Optical and medical equipment
• Fertilizers

India import and export information – Trade information

India’s main trade partners are China, USA, UAE, Saudı Arabia, Switzerland, Germany, İndonesıa and South Korea.

India is a member of WHO, APTA and SAARC.

Total value of export – 23 billion Rupees

Total value of imports –  35 billion Rupees

On 4th May 2021, UK prime minister Boris Johnson announced that agreement had been reached with India on new trade and investment worth around 1 billion UK pounds. This trade deal is the beginning of the ‘Enhanced Trade Partnership’ between India and the United Kingdom. It is expected that this partnership will in time lead to a full free trade agreement between the two countries.

Key areas of the new India – UK trade partnership are healthcare, technology, higher education and environmental services. The development of a COVID19 nasal spray vaccine is an important project within the healthcare agreement and the new vaccine has already started clinical trials in the UK before, hopefully being approved and going into production.

India import and export information

India import and export information – Business development information

Ease of doing business ranking – 63rd in the world

International dialling code – +91

Main business domain – .in

blackcat360.com offers FREE listing to businesses in India and all other countries of the world. Just visit the home page and click Add Listing to have your business included. We also provide useful information on other national economies in our Country Guides. A sample listing can be seen below for India ceramic tiles manufacturer Geogres Tiles Ltd

Geogres Tiles Ltd

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India import and export information