Major Trading Partners of India for Import and Export

by Seair Exim Solution Import Export Data

As of 2018 to 2019, the republic of India exported 320 billion USD worth goods to WCO listed nations. Here, most of the importing countries are from Asian countries. Hence, India earns 40% of its revenue from foreign trading. Government of India maintains export-import in such a manner than exports are more than imports. Yet, this is a sign of a healthy economy. Today, Indian is in EXIM trade with more than 200 countries. Here, we have listed the significant partner of India in foreign trade. It will help you check seair.co.in full details on India Export Import Data from 1960 to the last fiscal year.

India Top Trading Partner in 2020

· United States

· United Arab Emirates

· China

· Hong Kong

· Singapore

· United Kingdom

· Netherlands

· Germany

· Bangladesh

· Nepal

· Belgium

· Malaysia

· Saudi Arabia

· Vietnam

· France

From the list mentioned- above, the USA is a primary importer of goods from India. The Middle East countries import goods from India at 10% of its total share in exports. The rest of the importers are from Asian countries.

Trading Partners Of India are around 200 countries, which follows the best practices as per the guidelines of WCO. Here, a few of the nations come under the free trading agreement with India. Some of the countries are under the comprehensive trading partners list. Thus, trading policies changes, as and when India signs up a new agreement with other trading nations.

Import trading partners of India is China, United States, United Arab Emirates, Saudi Arabia, Iraq, Switzerland, Hong Kong, South Korea, Indonesia, and Singapore. India majorly imports petroleum products, FMCG, automobile spares, and electronics. The Government of India controls imports by imposing a higher tax to safeguard the local manufacturer interest. Thus, India imports are much lesser than what it exports to the rest of this world.

Export trading partners of India is the Bangladesh, Pakistan, Nepal, Malaysia, Singapore, and the USA. The Middle East nations like the UAE and Saudi Arabia are the major importers of agro products from India. These countries primarily import agro products, minerals, fabrics, processed diamonds and crafted jewels from India. However, food grains are exported much in higher quantity than other products in the HS code list. Thus, the Ministry of Finance collects significant revenue from India exports with global trading countries as per the WCO.