India is the largest country in South Asia. India is now called a middle-income developing market economy. In terms of nominal GDP, it has the 5th largest economy in the world. Experts are optimistic about India’s growth prospect. India has one of the largest agricultural economies in the world. International trade in India increased sharply after liberalization. According to India's trade data, trade was 40.02% of the GDP.
India trade data of 2019-20 shows total exports from 528.45 billion USD, while imports were 598.61 billion USD. The data indicated that imports were 2.6% of global imports, and exports were 1.7% of global exports. Exports in India were 19.74% of the GDP, while imports were 23.64% of the GDP.
India import-export trade data is collected from various customs offices across the country, port authorities, shipping companies, and trade authorities. The major data covered in India import-export are:-
According to India import-export trade data, exports decreased to 23430 USD Million in November while imports were 33600 USD Million in November. The largest exports after the lockdown were seen in September when 27580 USD million and the maximum imports were in October when 33600 USD million was imported. India usually has a large trade deficit, but India managed to narrow the trade deficit to 8.71 USD billion in October 2020.
There are several benefits of Trade Data of India are:-
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