From an authentic database of import export, you will get to know about the most important thing that is full description of products and their HS Code.
Import data:
To make an exclusive business strategy you should have a colossal knowledge about import data. You can easily browse and filter your search accordingly knowing the important details.
Top import items of India are:
$155bn had been spent in 2012 for crude petroleum oil as it is the biggest import of India. Apart from that $62bn was spend for gold and silver, as these are also one of the biggest imported things of India.
India mostly import things from China followed by the UAE, Switzerland and Saudi Arabia. Between 28th February to 28th March 2016 India imported USD18.21 billion products out of which 18.45% was from China, 5.56% from US and 4.64% from Korea.
Export data:
India is mostly moving towards Asian and African regions about exporting goods according to a publication on India's tread and investment by Exim bank. India exported USD 13.27 billion from 28th February 2016 to 28th March 2016 out of which 19.18% to United States, 9.7% to N/A and 10.94% to United Arab Emiratesand.
Exports declines 24% in November. Aditi Nayar, senior economist at ratings firm ICRA said "The shift in the festive calendar and the lower number of working days in November 2015 appear to have distorted the merchandise export shipment figures for that month, contributing to the widespread contraction across product categories,".
Nayar also added that this merchandise data of November is just a caution and not an alarm. The commerce department is trying hard to amplify export incentive schemes for markets and various products but the main hindrance behind India's non growing export is deteriorating imports from China and depreciation of the Chinese currency which is the result of stagnant global demand of rupee. Merchandise exports are standing on $174.3 billion depreciating from $213.7 billion last year.
So, once you are able to find the right company, you can get a specific idea about import export data and prepare your business strategy accordingly. Apart from that if you are a new a trader, and want to invest in foreign trade then you can procure an expert advice who has a vast knowledge and experience about the market exploring new features that would help you to go ahead.
