Indian Customs Import Data

Indian Customs Data

10-Jul-2020

Imports are goods and services in a country for sale that are made in another country. Countries import both finished products and raw materials that are unavailable in their country. Importing is a core part of any country’s economy. Importing has helped speeding up industrialization in India. Developing economies like India have a shortfall of raw materials, capital goods, and the latest technological products required for rapid economic development. Imports help meet domestic demand for products and raw materials that are unavailable in the country. During natural disasters importing food grains and other essential goods helps in relief efforts. Imports have helped improve the standard of living in India.

India custom import data is collected from ports (seaports, land ports, and airports). The data is collected form information from the bill of lading or shipping manifest submitted to customs authorities. The data usually contains product description and the corresponding HS Code, the unit and total quantity of the shipment, the total price, the name of the importer and exporter, the loading and unloading port. 

India import data shows India imported 480 billion USD of goods in 2019. The data collected in April 2020 shows that imports crashed at 17.1 billion USD in April 2020 due to the lockdown. The lower imports helped reduce the trade deficit to 3.1 billion USD. The imports reached a record high of 46.7 billion USD in May 2019. The lowest import figure was in July 1991 with imports of 1.3 billion USD. 

India custom import data helps importers formulate their business plans. The data allows them to study the latest market trends and predict customer preferences. The data can be used by importers to negotiate and get the best deal. The data can allow them to explore alternative markets or look for alternative products to import. Importers starting their business can use the data to contact exporters. Logistic service providers can use the database to contact traders for business. Bankers can use the database to offer services such as letters of credit and bank guarantees to importers. 

The major products imported to India are:-

  • Mineral fuels including oil 153.5 billion USD
  • Gems, precious metals 60 billion USD
  • Electrical machinery, equipment 50.4 billion USD
  • Machinery including computers 4.1 billion USD
  • Organic chemicals 20.5 billion USD

India import data showed that India’s top 10 imports accounted for 79.4% of the imports. Among the top 5 products imported into the country, machinery including computers showed a 1.6% improvement. Meanwhile, the import of organic chemicals, mineral fuel including oil, and gems, and precious metals fell by 9.3%, 9.3%, and 7.8% respectively. 

The major import partners of India are:-

  • China
  • United States
  • United Arab Emirates
  • Saudi Arabia
  • Iraq

Export Import Data Solutions is a leading export import data provider company in India. It provides the latest, genuine and reliable global import export trade data of several countries in the world. You can get samples of export import data, India trade data, Custom data, India export data, India import data, Indonesia import data, Indonesia export data, Indonesia import export data, HS code list, HS code search, custom duty in India etc before purchase. You can do free shipment data search. For complete details you can visit our web portal - exportimportdata.in.

You can contact us on the details Given Below

Why Find Export & Import Data

Export Import Data solutions is one of the best online import export websites in India that provides trade data services and trading business information. Currently, Export import data is the best import export data provider and market research companies in India.

Quick Query For Import & Export Data

  • Import Data
  • Export Data
  • Import Export Data