India is one of the most rapidly developing countries in the world. International trade in India has been one of the major growth drivers. With the onset of the liberalization policy in 1991, the markets in India opened up. This helped the economy immensely as India was benefited by a fast economic growth. The availability of labor at cost and highly advanced work force helped the manufacturing and the services sector. The Government initiative also helped the economy by means of lowering of tariffs, exemption of taxes pertaining to exports, etc.
Indian Exports to different countries
In 2006 Indian exports to United States of America was US $ 17.2 billion
In 2006 Indian exports to United Arab Emirates was US $ 8.6 billion
In 2006 Indian exports to China was US $ 6.7 billion
In 2006 Indian exports to Singapore was US $ 5.6 billion
In 2006 Indian exports to United Kingdom was US $ 5.1 billion
In 2006 Indian exports to Hong Kong was US $ 4.5 billion
In 2006 Indian exports to Germany was US $ 3.5 billion
In 2006 Indian exports to Italy was US $ 2.5 billion
In 2006 Indian exports to Japan was US $ 2.4 billion
Indian imports from different countries
In 2006 Indian imports from China was US $ 10.7 billion
In 2006 Indian imports from United States of America was US $ 7.8 billion
In 2006 Indian imports from Switzerland was US $ 6.5 billion
In 2006 Indian imports from Germany was US $ 5.8 billion
In 2006 Indian imports from Australia was US $ 4.9 billion
In 2006 Indian imports from Belgium was US $ 4.7 billion
In 2006 Indian imports from South Korea was US $ 4.3 billion
In 2006 Indian imports from United Arab Emirates was US $ 4.3 billion
In 2006 Indian imports from United Kingdom was US $ 3.9 billion
In 2006 Indian imports from Japan was US $ 3.6 billion
Major Export items from India
In 2006 Gems and Jewelry export was worth US $ 15.5 billion
In 2006 Petroleum product export was worth US $ 11.5 billion
In 2006 Ready Made Cotton Garments and accessories export was worth US $ 6.3 billion
In 2006 Drugs and pharmaceuticals export was worth US $ 4.9 billion
In 2006 Machinery and instruments export was worth US $ 4.8 billion
In 2006 Transport equipments export was worth US $ 4.6 billion
In 2006 Metals product export was worth US $ 4.2 billion
In 2006 Cotton yarn and fabrics export was worth US $ 3.9 billion
In 2006 Iron ore export was worth US $ 3.8 billion
In 2006 Semi-finished iron and steel export was worth US $ 3.0 billion
Major Import items to India
In 2006 Petroleum crude and product import was worth US $ 35.0 billion
In 2006 Electronic goods import was worth US $ 13.2 billion
In 2006 Gold import was worth US $ 10.7 billion
In 2006 Non-electrical machinery import was worth US $ 9.9 billion
In 2006 Pearls and precious stones import was worth US $ 9.1 billion
In 2006 Organic chemicals import was worth US $ 4.7 billion
In 2006 Iron and steel import was worth US $ 4.2 billion
In 2006 Metallic ores and scrap import was worth US $ 3.8 billion
In 2006 Coal and coke import was worth US $ 3.7 billion
In 2006 Transport equipments import was worth US $ 3.1 billion
Indian Trade of services
Export of services in 2005 -2006 was worth US $ 60.6 billion
Import of services in 2005 -2006 was worth US $ 38.3 billion
Geographic distribution of India's IT and ITES exports
In 2006 exports to United States of America was 68.2%
In 2006 exports to European countries was 22.6 %
In 2006 exports to Asia and Oceania was 7.4%
In 2006 exports to African countries was 0.6%
In 2006 exports to others countries was 1.2%