Import and Export Landscape in India for its Economic Development |
Posted: March 24, 2017 |
From over the years, India has played a crucial role in global trade flows. The country being located between the mainland Asia, South East Asia, and the Middle East, it has served as a gateway to global markets. The import and export data of Indian custom helps you in trading to get imperceptible about the trading and also reveals about the companies related to trading so that you can create new strategies and ideas in your business to lead first. The customs import and export data of both Indian buyers and suppliers is based on Indian custom. The data reveals everything about import and export of products like Shipping Date, Value, Quantity, Price, country and so on. The import and export data of Indian customs also provides you with the services so that you can easily avail with the details about shipping the products. Indian import and export data mainly helps you in the trading business, and with it, you can easily get the invisible information about the products and items that have been imported and exported. Indian Import data and trade statistics With the Indian import data, the India companies are getting updated on the goods and services imported by their rivals as well as their involved costs. The Indian import data is based on the Indian shipping bills, and invoices filed with the Indian customs. With Indian import data, you can get the full details of the product movement, and it also aids in analysing the Indian and foreign market. You can easily analyse the pricing strategy of the overall tour with the help of import data and thus generate business leads for consults, transportation, and logistic companies. As per the trade statistics of FY2016, import data from India shows the total import of goods are amounting to US$1.17 billion and the products exported worth US$0.67 billion. According to the total import trade of India from various countries, China acquired the first position with 22.63% imports, Korea was next to follow with 7.18%, Saudi Arabia stands at third place with 5.03% imports. Indian Export data and trade statistics With the Indian export data and export statistics, you can get a clear picture of changing trends of the market, and thus you can build better business strategies to rise beyond the expectation. Indian export data reveals information on potential suppliers and the foreign buyers which help both the importers and exporters in finding trustworthy business partners in India and they can also source their products from India. As per the Export Trade Statistics of India from various countries, UK stands at the topmost position with 21.40%, UAE was next to follow with 14.92%, and the UK remained at third place with 4.50% exports. Summary:- India is the fourth largest international economy in purchasing power equivalence that means the country’s import market has a huge potential. This potential provides big prospects for global exporters as well as Indian importers. The import and export growth of India shows a stability and this stability in India’s import and export landscape is encouraging the foreign businesses considering investing in India.
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