Indian Import Export Data - For Making Right Strategies

The Indian economy was protectionist from 1947 till 1991. In 1991 the economy opened and several restrictions on imports and FDI were eased. Since then India’s economy has grown, today it is the 5th largest economy in terms of GDP. According to Import Export Data from India foreign trade is 40% of the GDP. Currently, India imports 6000 products from 140 countries and exports 7500 products to 190 countries. 

We create the Import Export Data from import-export documentation. Trader makes their business plan based on the database. They use the data to study trade patterns and try to predict customer preferences. Importers and exporters scrutinize the database to find new markets and opportunities to diversify. They can select new trading patterns after analyzing buyer or seller price and volume data. 

Financial institutions use import-export data to understand international business. They use the data to perform risk analysis on existing clients and to new clients. Shipping and logistic providers use the import-export data to find new customers, analyze top traded commodities, popular trade routes for a country. As per Import Export Data India, the top ports in India are:-

• Nhava Seva Port (Jawaharlal Nehru Port Trust)
• Port of Mudra
• Port of Chennai
• Port of Kolkata
• V.O. Chidambaranar Port 

Countries use Export Import Data to learn the top traded commodities. They study the impact of economic and industrial policy on international trade. The data is used during trade negotiations. Countries use the data to estimate the revenue earned through customs duty. 

Export Import Data shows India’s top trade partners are:-

• China
• The US
• UAE
• Saudi Arabia
• Iraq

The India Import Export data shows the trade deficit in 2020-21 was 98.62 billion USD, with India importing 313.36 billion USD and exported 290 billion USD. Both imports and exports were affected because of the global pandemic. Imports dipped by 18% compared and exports dipped by 7.4% compared to imports in the previous fiscal. Traditionally India has a high trade deficit because it imports nearly 80% of its energy needs, but in 2020-21 oil imports dipped by 10.89% to 306.67 billion USD.

Seair Exim Solutions is the best India Import Data Provider. It is one of the genuine platforms to collect the latest and updated import data at an affordable price. The export import trade data is updated as per the shipping bills and invoices filed at the customs of the trading countries. The trade data will significantly decrease the workload of the global importers and exporters.

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Created on Apr 12th 2021 01:58. Viewed 262 times.

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