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BENEFITS & USES OF INDIAN IMPORT DATA FOR INDIAN IMPORTERS

Indian Import Market Overview

India is the seventh largest country in the world in terms of its land mass, number ten in the world for the size of its economy by GDP, and the fourth largest international economy in purchasing power equivalence. This means that in Indian Import market has a huge potential. This potential provides huge opportunities for global suppliers / exporters as well as Indian buyers / importers.

India's total external trade (both export and import) in the year 2008-09 has increased to Rs.20,72,438 crore. from Rs.91,893 crore in 1990-91. India’s economy has grown by about 7.5% yearly since 2000, and that rate is predicted to increase. In 2008-09 total indian imports was Rs.13,05,503.

Items imported in India

  1. Civilian aircraft
  2. Diamonds
  3. Chemical fertilizers
  4. Telecommunications equipment
  5. Organic chemicals
  6. Other petroleum products
  7. Computer accessories
  8. Jewelry
  9. Medical equipment
  10. Industrial machines
  11. Military vehicles
  12. Military clothing & footwear
  13. Beverages and tobacco
  14. Collectibles (e.g. artwork, antiques, stamps)
  15. Engines for military aircraft

Items that registered a significant growth in import are Pearl, Precious & Semi-Precious Stones, Crude & Manufactured Fertilizer, Coal, Inorganic Chemicals, Project Goods, etc.

Indian trade with other countries in terms of import trade share

Asia and ASEAN accounted for 61.7 per cent of India's total imports during the period followed by Europe (18.7 per cent) and America (10.1 per cent). Among individual countries the share of China stood highest at (10.7 per cent) followed by Saudi Arabia (7.1 percent), UAE (6.4 percent) and USA (6.0 percent), Iran (4.3 percent), Switzerland (4.2 per cent), Germany (3.6 per cent), Kuwait (3.4 percent), Nigeria (3.2 percent), and Iraq (2.8 percent).

In India importing goods is a very competitive business. Daily new businesses are entering into the import market making it increasingly difficult for the existing players to be at equivalence. Augment in import also bring in new and better source of global suppliers.

If you are in an import oriented business your competitiveness will depends on the following knowhow:-

  1. Accurate knowledge of your competitor’s activities
  2. The knowledge of any new source of supply
  3. The knowledge of new products
  4. The knowledge of the most profitable products
  5. The exact inventory status of goods imported in the country
  6. The pricing at which the goods are imported
  7. The best classification of the imported goods to avoid hassle with customs authorities

Unless all the above factors are considered, your business planning may be quite erroneous. But where can you procure all these information that would be authentic enough so that you can make your most vital business decisions basis on it.

Planetexim.Net is the best solution available to you. We can provide you the actual transaction wise details of imports of all your relevant products which have been imported anywhere in India from around the globe. This Data is procured from the custom houses from all over India, processed and then integrated into our proprietary and user-friendly software - . In sort we will help you to derive the relevant information from the data of lakhs of consignments.
 
 
 
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