Top 10 Imports in India: A Guide for Importers in India

Key Highlights:

• According to India import data, India's total imports from April–September 2024 are estimated to be $448.05 billion, which is a 6.89% increase.
• The major imports in India are Petroleum, Crude & Products, Coal, Coke & Briquettes, Electronic Goods, Transport Equipment and Organic & Inorganic Chemicals
• The top import partners of India are China, Russia, the United Arab Emirates, the United States and Saudi Arabia.
• The top importers in India are Mahindra Logistics Ltd, Adani Logistics Ltd, DHL Logistics Pvt Ltd, and Tata Motors.
• The major imports from China to India are electrical and electronic equipment, machinery, organic chemicals, and plastics

As we know, India is a southern Asian nation with a rich cultural heritage that imports and exports many items. The country's trade dynamics are still changing, which impacts its foreign policy and economy. India has a negative trade balance because its imports exceed its exports. For many nations looking to investigate commercial prospects in the nation, this is a benefit. 

Based on Import Products from India data, diamonds, precious metals, chemicals, pharma, rubber, plastics, petroleum, crude oil, coal, coke electronics, and machinery make up 82% of total merchandise imports into India. In this blog, you may find information about the top 10 imports in India, India import data and import ideas. 

Let us begin by providing a quick summary of major imports in India, importers, and top imports.

Is India a Net Importer or Exporter?

India can be both an importer and a net exporter, depending on the commodity. 

India imported USD 41.99 billion worth of goods in January 2021, up 2.05% from USD 41.15 billion in January 2020.  With a trade deficit of USD 14.75 billion in January 2021, India is a net importer, a 3.57% decrease from the trade deficit of USD 15.30 billion in January 2020.

• Looking for export commodities? Explore List of Products Exported from India 2024

According to the GTRI report, India's top 10 imports are expected to increase by approximately 16% to USD 710 billion this fiscal year due to an increase in inbound shipments of crude oil, coal, diamonds, chemicals, and electronics.

Imports in India: Stats & Overview 2024

Let us analyse the India import table overview. 

The significant free trade agreement (FTA) partners—South Korea, Japan, Australia, the United Arab Emirates, Mauritius, ASEAN, and SAFTA—showed a strong growth rate in 2023–24, surpassing the total amount of products entering the nation. In particular, these imports increased by an astounding 38% to reach US$187.92 billion.

Based on India import data, India's total imports of goods fell by 5.66% to US$675.44 billion in 2023–2024.

Explore the List of the 13 Largest Ports in India

India's Imports Statistics: Brief Overview

India's imports decreased from USD 189201 million in the first quarter of 2022 to USD 179430 million in the first quarter of 2023. India's exports reached USD 124845 million in 2023-Q1, compared to USD 123832 million in 2023-Q1, according to export-import data. The United States and China are India's two biggest commercial partners. Nonetheless, India's most significant imports and exports are mineral fuels and oils.

Under the "Make in India" initiative, India is concentrating more on producing goods and exporting them to other markets. Additionally, India has seen a decline in imports from China. Nonetheless, China continues to be India's top trading partner, with the US coming in second. The top 5 import partners from India, major items imported by India, or top importers in India include: 

Now it's time to explore the top 10 imports in India or India main imports!

Major Imports in India: 2023-24

Let's explore the table on India main imports: 

Here is the list of the top 10 imports in India in detail: 

1. Petroleum, Crude & Products

These petroleum products include petrochemical feedstocks, jet fuel, lubricating oils, waxes, petrol, and distillates like heating oil and diesel fuel. In India, petroleum and related products are the largest import of India, accounting for US$ 179.62 billion. For example, 78% of India's crude oil needs are satisfied by imports, with the remaining part derived from its reserves. 

2. Coal, Coke & Briquettes

Minerals like coal and solid fuels derived from coal are among the goods imported from other nations, with a total value of $38.88 billion observed in 2023–2024. These are mostly imported from China, Iran, and Iraq.

3. Electronic Goods

India is becoming one of the world's biggest marketplaces for electronic goods due to increased private consumption and per capita disposable income. China, India's largest partner, was the leading supplier of reasonably priced electrical equipment, followed by the US, Europe, and Japan. The total value of electrical machinery and equipment imports in 2023–2024 was $29.12 billion.

4. Transport Equipment 

India imports a lot of transportation equipment to assist its economic growth and development. India imported more than USD 29121.26 million worth of transport equipment in fiscal year 2024, including a range of transport equipment such as railway equipment, auto parts, and aeroplane parts. China, Singapore, Hong Kong, Korea, and China are India main imports partners for machinery and transport equipment.

Also Read: How to Import Car From Dubai to India

5. Organic & Inorganic Chemicals

Petrochemicals and specialised chemicals are among the various chemicals that India buys. Depending on the demands of the Indian economy and industries, different chemicals are imported. The main chemicals that India imports include liquid chlorine, acyclic alcohols, cyclic hydrocarbons, methylene diphenyl diisocyanate, and caustic soda.

6. Pearls, Precious & Semi-Precious Stones

In fiscal year 2024, India imported pearls and precious and semi-precious stones valued at around two trillion Indian rupees. India typically buys pearls to make products that can be sold on the international market. Even yet, a significant application of the rising demand for pearls in India is Indian jewellery. For the same reason as gold, India imports large amounts of pearls as well as valuable and semi-precious stones.

7. Vegetable Oil

India has become the world's greatest importer due to its growing population and economy, getting 70% of its vegetable oil from outside the country. While soy and sunflower oils are imported from Argentina, Brazil, Russia, and Ukraine, palm oil is purchased from Indonesia, Malaysia, and Thailand.

8. Plastics, plastic articles

India imports plastics from more than 60 nations, and since 1957, the sector has been expanding. In particular, China has a consistent supply of polyvinyl chloride, a type of plastic that India buys. In addition, India purchased $22.59 billion worth of plastics in 2023–2024 alone. India imports plastics from China as well as the United States, Germany, Japan, France, and the United Kingdom.

9. Fertilizers, Crude & Manufactured

In 2023–2024, India imported fertilisers worth US$10.42 billion. India imports a wide range of fertilisers, such as mono-ammonium phosphate, anhydrous ammonia, urea, diammonium phosphate, muriate of potash, and potassium sulphate. Russia, Saudi Arabia, China, Morocco, and Oman are India's primary importers of fertiliser. 

10. Iron and Steel

The countries that India imports the most iron and steel from are South Korea ($2.41 billion), China ($1.22 billion), Indonesia ($983 million), Japan ($961 million), and the United Arab Emirates ($778 million) in 2021. Similar to this, Based on India import data, India imported $16.74 billion worth of iron and steel in 2022

Now, it’s time to explore major destinations for imports in India!

India’s Top Import Partners

Here is the list of India’s major import partners: 

According to India import data, imports from China to India are the highest among all. Indian imports from China were $101.75 billion worth in 2023–2024. 

Russia is now India's second-largest import partner. According to additional information, India's imports from Russia increased from US$ 30.8 billion to US$ 34.4 billion in 2024. 

Additionally, contact us at Exportimportdata.in for additional information on the market where India sources goods in bulk. It will give you information about India's commerce, including shipment values, port of origin, a list of all Indian exporters and importers, the biggest importer of India and India's major trading partners.

Also, explore the top products Canada Imports from India in 2024

How's Exportimportdata.in assisting the Indian Importers?

If you plan to import goods from India, you must first comprehend the insights of international trade. Given its size, China could be a potential market for imports in India. To successfully import goods in India from China, businesses need to adhere to trade rules, comprehend market trends and HS codes, and establish reliable supply chain processes. 

It takes meticulous preparation and knowledge of the dynamics of international trade to import in India from other nations. Textiles, chemicals, and electronics are just a few of the many products that India needs to import to cater to domestic demand. 

Additionally, businesses looking to import goods in India must investigate current and trustworthy India import data from the top import export data source, such as Exportimport.in, to obtain global trade data hassle-free. 

Wind Up!

Thus, these India main imports offer a thorough overview of the nation's economic climate and the dynamics of international trade. To meet its varied needs, India makes strategic investments in foreign trade, whether it is in energy, technology, or raw materials. If you are thinking about importing products from India, it is essential to comprehend the nuances of the country's top ten imports to effectively navigate the complexities of international trade and comprehend the dynamics of the import market.  

As the globe changes, maintaining current knowledge of import-export statistics and trade patterns will be essential to forming win-win partnerships and fostering economic expansion. 

Please feel free to contact Exportimportdata.in with any questions you may have about the major imports in India, India import data, or HS codes. Our professionals will offer you advice based on their extensive knowledge and experience. To schedule a free live demo, click here.

Major Items Imported by India

Major imports in India: Electronic Goods

Major imports in India: Vegetable oil

Major imports in India: Iron and Steel

Imports in India

India main imports from China

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