import export :india’s trade patterns ib

8/3/2019 IMPORT EXPORT :INDIAS TRADE PATTERNS IB

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INDIAS TRADE

PATTERNS: EXPORTSAND IMPORTS

Prepared by :Trinayan Bhuyan &

Mufidul Islam

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Introduction

Indias trade pattern hasto be looked in terms of

its trade policies and therole they play in Indiastrade with its majortrading partners, morespecifically in terms ofits export and import.

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BASIC facts on Indias Trade

Pattern

Trade liberalization alongside EconomicLiberalization led to significant changes in thepattern of Indias trade growth. India experienced

much higher growth in its trade with developingregion and Asia-Pacific countries than it did withhigh income countries.

Having been an agro-based economy, Indian trade

has always been devoid of manufactured orindustrial goods. So, post liberalization, importsdominated the Indian trade scene in the form ofheavy machinery and information technologyproducts and, thus, created an imbalance of trade.

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Indias Export

Indian trade has undergone massiverestructuring following the 1991 liberalizationPolicies. Ever since, India's exports haveexperienced a growth rate of 18.11%. Thevarious other export commodities that

India exports are: Precious stones and metals

Petroleum products

Machinery

Iron and steel

Chemicals

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Vehicles

Apparel


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Indias ImportEver since LIBERALISATION, India's the

import sector that has experienced growthrate of 34.30%. India major Imports the Indianeconomy is headed towards becoming adeveloped economy and all its sectors are inneed of machinery and energy. Therefore,Indian imports are dominated by crude oil andmachines. Other imported products are:

Fertilizer

Iron and steel

Gold & Silver

Electronic Goods

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Machinery non-Electrical.

Organic & Inorganic Chem.Metalliferous Ores pdts.Coal.Transport Equipment


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Indias Trade Basket

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Trade Partners

UAE

US

China

Singapore7

India's main export countries are:


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Trade Partners

China

Saudi Arabia

US

UAE

Iran8

India's import with International partners:


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Indias Major Trading

Partners

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Recent Trend

Direction of export is movingtowards southern countries.

China is being a biggestsupplier for India; similarlychina has best market fortrading is India.

Trend is towards developingcountries.

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Indias Export: Shifting

Southwards

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Indias International Trade

Indian trade was impacted bythe global downfall of 2007-2009.Indian exports fell from $200.9

billion in 2008 to $165 billion in2009.India ranked 22nd in theworld in terms of export volume.

In 2009, total imports amountedto $253.9 billion, down from the2008 figure of $322.3 Billion.India ranked fifteenth in theworld in terms of import volume.

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Indias International Trade

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Indias Trade in Services

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Certain Findings

The 1991-93 and 2001 trade reforms appear to have putIndias economic growth on a higher trajectory. Since 2001,growth rates for total non-agricultural exports, non-agricultural imports and agricultural exports have allincreased significantly both overall and across virtually allregional groupings.

These trends are reflected in the significant increase inIndias trade openness since the reform period. In 1990,before trade liberalization began Indias merchandise tradeas a share of GDP was 10 percent. By 2005, merchandisetrade share of GDP had increased to nearly 30 percent.

The exception to the considerable increase in growth intrade after the two periods of trade reform is India'sagricultural imports. Since the initial reforms in 1991-93 therate of growth in India's agricultural imports slowed. Thiscould be a result of India's remaining restrictions onagricultural imports.

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Conclusion

India's total trade as a share oftotal world trade remains lowcompared to its size but the

potential for further growth ishigh. The analysis providesfurther evidence that India'sincreased openness to trade is

associated with increased tradegrowth.

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Thanks

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import export :india’s trade patterns ib

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