India Top 10 Imports And Import Sources

By Author: Varun Pratap Singh
Total Articles: 40
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In 2020-21, Indian imports were valued at $388.92 billion, an 18 per cent drop from 2019-20, when the country imported goods and services worth $474.71 billion. within the last fiscal year , Indian exports stood at $290.18 billion, down 7.4 per cent from $313.36 billion in 2019-20. In India’s foreign trade, imports have always outpaced exports, a fact illustrated by these figures from the past two years. Widespread economic disruptions caused by Covid-19 in 2020 didn't change this reality.

The Indian government’s flagship Atmanirbhar Bharat Abhiyan (Self-Reliant India Mission) strives to significantly improve domestic manufacturing and, thereby, reduce import dependence. But lowering India’s reliance on imports is simpler said than done, especially when the processes for imports are ironically much better than those for exports, as admitted by the govt within the Economic Survey. Given the importance of foreign goods in the country, this piece explores the top 10 imports of India and it’s top 10 import sources.

India Import Data shows Top ...
... 10 countries from which India imports

India’s top 10 trade partners from where it imported the above commodities in 2020-21, according to Statista, were:
1. China (13.7%)
2. United States of America (7.5%)
3. United Arab Emirates (6.3%)
4. Saudi Arabia (5.6%)
5. Iraq (5%)
6. Hong Kong (3.5%)
7. Switzerland (3.5%)
8. South Korea (3.3%)
9. Indonesia (3.1%)
10. Singapore (3.1%)

Top 10 imports of India

According to market and consumer data firm Statista, the top 10 commodities imported by India in 2020-21 were:
1. Crude petroleum (21.6%)
2. Gold (5.9%)
3. Petroleum products (5.8%)
4. Coal, coke and briquettes (4.7%)
5. Pearl, precious and semi-precious stones (4.7%)
6. Electronic components (3.4%)
7. Telecom instruments (3%)
8. Organic chemicals (2.5%)
9. Industrial machinery (2.5%)
10. Electric machinery and equipment (2.3%)

China Export Data shows China takes the lion’s share

China toppled the US to become India’s top trading partner in 2020. Bilateral trade between the 2 Asian neighbours stood at $77.7 billion. Imports from China accounted for the main share of this trade and was valued at $58.7 billion. Exports to China stood at $19 billion. Indian imports from China eclipsed imports from the US and UAE combined. India’s dependence on Chinese goods is essentially thanks to the very fact that they're cheap and simply available in abundant volumes.

Traditionally, India’s main imports from China are electrical machinery and equipment, and mechanical appliances like telephone equipment, audio recording devices, TV, cameras, video phones, automatic processing machines, electronic circuits, transistors and semiconductor devices. aside from these, it's also a serious supplier of antibiotics, fertilizers, automobile components and accessories.

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