Since the 1990s, India import data has expanded to a wide variety of commodities. From petroleum to pharmaceuticals and what not - India has always been first in line to import goods from multiple countries. In the past few decades, it has been noticed that the country has seemingly improved its trade relationships with far-fetching countries like China, the United States, Britain, and others. Today, let's review the top 5 commodities imported to India in large volumes. Cybex.in brought to you India imports data statistics that help you lead to import business in India:
In 2019, India imported crude oil at the largest volume worth up to 102,306,491,000 USD. Indeed, the shocking part is that the India import data shows an 11% decline in crude oil import in India.
It is rather a surprise for India's jewellers to find out that India also imports Gold from other countries. Centuries ago, India was called the bird of Gold. But today, it imports Gold at such a large volume that it costs over 32 billion USD.
Coal and other solid fuel
In 2018, it had been reported that India holds a lavish amount of coal and solid fuels as coal reserves in order to expand the steel industry. As of 2019, India coal reserves are 3, 19, 020 million tonnes. Since the country has very less production of domestic coal, it is nowhere near the top 80 coal reserves in the world. The United States ranks first.
Do you know? NDMC Panna is the one and only diamond mine in India. According to the International trade data, India is the largest importer of Diamonds, with a total worth of over 23 billion USD. It is dependent on the United Kingdom, United States, Japan, and Thailand for non-traditional diamond imports.
Do you know? In 2019, India import data reported imports of Petroleum gases worth over 17 billion USD. Data shows that the country is heavily dependent on Saudi Arabia Aramco, Abu Dhabi National Oil Corporation, Kuwait Petroleum Corp, and Tasweeq of Qatar.
India's Prime Minister, Mr Narander Modi, has recently launched the Indian self-reliant movement. According to this movement, the country is taking a step back to cut down its import cost and further increase the exports to benefit from the trade balance.
Since the movement has started, India has declined its import for crude oil by 11%, coal by 6.5%, diamond by 17.4%, Smartphones by 24%, and petroleum gasses by 8.8%.
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