Import is getting goods or services into the country from overseas. Importing lets nations sell their surplus resources and products to other countries. Historically, India has always had international trade relations that can be traced back to 100CE. After independence, the Indian economy was a protected economy. The import and export trade was strictly regulated. After the Indian economy liberalized after 1991, imports increased exponentially. The GOI allowed foreign investment. Since then the economy has improved substantially.  

India is the 17th largest importer of goods and services. In the financial year 2018-19, India imported 514 billion US dollars. The rising domestic demand for electronics and electrical goods and mineral oil and products has increased Asia’s share from India’s overall import figure. In 2018-19 the country imported 59.3% from Asia, 15.8% from Europe, 8.2% from Africa, and 8.1% from North America.

India’s top import partners are -

• China (70.3 billion dollars)
• United States (35.5 billion dollars)
• United Arab Emirates (29.7 billion dollars)
• Saudi Arabia (28.5 billion dollars)
• Iraq (22.3 billion dollars)

Top Products imported from in India are:- 

• Oil (177.5 billion USD) – India gets most of its crude oil from the Middle-East. The country mainly imports oil from Saudi-Arabia and Iraq. If you look at India’s import-export data for crude-oil over the last decade imports have increased from 65 million tons to 180 million tons.
• Precious stones (60 billion USD) – India is uniquely poised where precious stones are both the 2nd most imported and exported product. Gold is a major import.  The processing of precious stones takes place before imports.
• Electronics (32 billion dollars USD) – India import-export data shows that half of the total electronic equipment comes from China. India is becoming independent thanks to the Make in India initiative. Resulting in import rates going down.
• Heavy Machinery (31 billion USD) includes industrial machines, engines, and pumps that are imported from Japan and China. India is putting a renewed thrust on industrialization hopes to reduce the dependence on industrial machinery.
• Organic Chemicals (18 billion USD) are major imports of India. India   is dependent on imported bio-chemicals. These chemicals are used in agriculture increasing agricultural costs and affects food prices.

Other major products imported from India are:-

• Plastics (11.8 billion USD)
• Animal and Vegetable Oil (10 billion USD)
• Iron and Steel ( 7 billion USD)

Importers are the company or person who makes the import declaration. They are liable to pay duties if any, on the imported product. The importer is named as the consignee or the buyer on the exporter’s invoice. Indian importers database is prepared from the bill of entry given at custom ports across the country. 

Information contained are - the importer name and contact details, import price both unit qty and the total valuation of the shipment, the product imported (product description, qty, and HS Code), and date of import. Importers plan their business strategy with the help of this data.

Top importers in India in India are:- 

• Chemex Chemicals – Importers and Suppliers of Chemicals in India
• The Classic Import and Export
• Samitech Electronics Pvt. Ltd
• Indersons Corporation
• Dishman Pharmaceutical Chemicals.

Seair Exim Solutions is a leading import export data provider company in India. It provides latest, 100% genuine, real, and reliable global trade data of more than 80 countries like India, USA, China, Russia, Mexico, Kenya, Indonesia, Vietnam, etc. Some of our major services are USA import data, Indian import data, India export data, importer data Indonesia, Vietnam exporters data, Russia customs shipment data, Mexico trade data, Kenya shipment data etc. You can find many free resources related to import export trade business such as Indian HS codes list, HSN code search, HS code finder, sac code list, sac code finder, custom duty in India, import custom duty India, custom duty calculator, foreign ports, trading partners of India, GST rates in India, GST rates list and many more on our website – seair.co.in.

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