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INDIAS TRADE
PATTERNS: EXPORTSAND IMPORTS
Prepared by :Trinayan Bhuyan &
Mufidul Islam
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Introduction
Indias trade pattern hasto be looked in terms of
its trade policies and therole they play in Indiastrade with its majortrading partners, morespecifically in terms ofits export and import.
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BASIC facts on Indias Trade
Pattern
Trade liberalization alongside EconomicLiberalization led to significant changes in thepattern of Indias trade growth. India experienced
much higher growth in its trade with developingregion and Asia-Pacific countries than it did withhigh income countries.
Having been an agro-based economy, Indian trade
has always been devoid of manufactured orindustrial goods. So, post liberalization, importsdominated the Indian trade scene in the form ofheavy machinery and information technologyproducts and, thus, created an imbalance of trade.
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Indias Export
Indian trade has undergone massiverestructuring following the 1991 liberalizationPolicies. Ever since, India's exports haveexperienced a growth rate of 18.11%. Thevarious other export commodities that
India exports are: Precious stones and metals
Petroleum products
Machinery
Iron and steel
Chemicals
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Vehicles
Apparel
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Indias ImportEver since LIBERALISATION, India's the
import sector that has experienced growthrate of 34.30%. India major Imports the Indianeconomy is headed towards becoming adeveloped economy and all its sectors are inneed of machinery and energy. Therefore,Indian imports are dominated by crude oil andmachines. Other imported products are:
Fertilizer
Iron and steel
Gold & Silver
Electronic Goods
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Machinery non-Electrical.
Organic & Inorganic Chem.Metalliferous Ores pdts.Coal.Transport Equipment
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Indias Trade Basket
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Trade Partners
UAE
US
China
Singapore7
India's main export countries are:
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Trade Partners
China
Saudi Arabia
US
UAE
Iran8
India's import with International partners:
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Indias Major Trading
Partners
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Recent Trend
Direction of export is movingtowards southern countries.
China is being a biggestsupplier for India; similarlychina has best market fortrading is India.
Trend is towards developingcountries.
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Indias Export: Shifting
Southwards
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Indias International Trade
Indian trade was impacted bythe global downfall of 2007-2009.Indian exports fell from $200.9
billion in 2008 to $165 billion in2009.India ranked 22nd in theworld in terms of export volume.
In 2009, total imports amountedto $253.9 billion, down from the2008 figure of $322.3 Billion.India ranked fifteenth in theworld in terms of import volume.
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Indias International Trade
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Indias Trade in Services
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Certain Findings
The 1991-93 and 2001 trade reforms appear to have putIndias economic growth on a higher trajectory. Since 2001,growth rates for total non-agricultural exports, non-agricultural imports and agricultural exports have allincreased significantly both overall and across virtually allregional groupings.
These trends are reflected in the significant increase inIndias trade openness since the reform period. In 1990,before trade liberalization began Indias merchandise tradeas a share of GDP was 10 percent. By 2005, merchandisetrade share of GDP had increased to nearly 30 percent.
The exception to the considerable increase in growth intrade after the two periods of trade reform is India'sagricultural imports. Since the initial reforms in 1991-93 therate of growth in India's agricultural imports slowed. Thiscould be a result of India's remaining restrictions onagricultural imports.
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Conclusion
India's total trade as a share oftotal world trade remains lowcompared to its size but the
potential for further growth ishigh. The analysis providesfurther evidence that India'sincreased openness to trade is
associated with increased tradegrowth.
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Thanks
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