Highlights
In the past few years, India has witnessed a steady growth in India's imports with the accurate and relevant Import data. The number of commodities imported to India has significantly enhanced, and the trade market is now increased with the number of imports. India's top import products contain mineral fuels, including oil, Gems, precious metals, Electrical machinery, equipment, machinery, including computers and organic chemicals.
Several foreign trade markets are majority dependent on India for importing specific goods from several growing countries. Also, you can find the accurate import export data from the best data import export provider. In this blog, we will discuss India's top imported products.
India's import business is extensive and more profitable than the export business. There are various commodities or products that are imported in India. Also, it plays an important factor in developing the nation's economy. Last year India imported USD 52.01 billion, an increase of 23.74% over USD 42.03 billion in January 2021. India's merchandise import in 2021–22 was USD 495.83 billion. For the precise import data India, there are numerous data import export providers in the market, but Seair Exim Solutions is the topmost import export data provider globally.
The word ‘import’ is derived from the conceptual purpose of obtaining ship goods and services from specific countries. The buyer of such goods and services is directed as an “importer” who is based in the country of import whereas the overseas-based seller is known as an “exporter”.
In simple words, an import business represents a good or service that is produced outside the country and then sold to and consumed in another country. In Global Trade, “import” refers to purchasing goods and services produced from outside the country. Also, get data import export.
Now, let’s analyze the India Import Data for 2023-24.
Here is an updated table for India import data for 2023-24.
| Month | Total Value (USD Billion) | Change (%) |
| Aug-24 | 64.3 | 6.95 |
| Nov-23 | 67.88 | -6.16 |
| Total 2023-24 | 675.44 | -5.66 |
According to India import data, the total value of imports increased by $4.18B (6.95%) from $60.2B to $64.3B in August 2024.
The total value of imports in November 2023 was USD 67.88 billion, representing negative growth of (-) 6.16 percent compared to November 2022. Also, the total goods imports by India in 2023–24 declined by 5.66 percent to US$675.44 billion.
According to India import data, below are the leading global countries to which Indian exports are Imported-
| Top Rank | India’s Top 10 Imports Destination | Import Data 2023 |
| 1 | China | $121.97B |
| 2 | United States | $42.12B |
| 3 | United Arab Emirates | $37.54B |
| 4 | Saudi Arabia | $34.64B |
| 5 | Iraq | $29.84B |
| 6 | Switzerland | $18.60B |
| 7 | Hong Kong | $3.65B |
| 8 | South Korea | $19.64B |
| 9 | Indonesia | $24.03B |
| 10 | Singapore | $6.93B |
After reviewing an overview of India's importing business, now discuss the major importing products in detail.
In the crisis of Covid-19, the Prime Minister Narendra Modi has announced the new initiative called Atma Nirbhar Bharat, the main objective of this initiative to be self-dependent. But there are some products or commodities that the economy has to rely on. According to import data India, Here are the 10 entities most imported in India or India's top 10 import products.
Over the last ten years, the use of electronic gadgets has become more widespread over the world, and Indians have followed this trend as well. Also every year, India imports electronics worth billions of dollars. According to export import data, the majority of these goods originate in China. India does produce and export a small number of its own electronic goods, but they still have a long way to go before they import as much as they export.
Despite a 3% drop in all exports from the country, India exported $29.12 billion worth of electronics in 2023–2024 (FY24), a 23.6% increase from the year before. Based on electronics export data, India's electronics exports from India reached 6.6% in FY24.
Given that we just discussed how many minerals and diamonds their region has to offer, it might surprise you to learn that priceless jewels are among the most popular imports into India. However, Indians import nearly as much precious metal as they do.
The gem and jewelry market in India was valued at approximately US$78.50 billion in FY21, according to data on jewelry exports. The US export market's rising demand for imports and the fulfillment of orders placed by different Indian exhibitors at GJEPC's Virtual Buyer-Seller Meets (VBSMs) are the main causes of the increase in exports.
Heavy machinery equipment is yet another significant import for India. Construction and industrialisation use these huge instruments. The majority of heavy equipment is being imported from China and Japan. According to data import export, currently, the value of this import sector is at $20 billion.
Even if the prime minister of India is trying to decrease the usage of plastic, it is still one of the most popular imports at the moment. Also, various household items and packaging for goods are also made of plastic.
For economic development, efficient means of transport are quite significant. Motor vehicles, ships, aero planes etc. are imported from abroad. These are imported from the USA, Britain, Germany, Italy and Japan etc.
As we know, India is largely dependent on petrol and petroleum products. According to India import data, India imports 35% of its petroleum products from foreign. Also, Petroleum comes from Iran, Kuwait, Iraq and Saudi Arabia.
To increase the productivity of land fertilizers, chemical fertilizers are very useful. Also, India imports large quantities of chemical fertilizers from various countries. According to India import data, India imports large quantity of chemical fertilizers from U.S.A., Russia and E.U
India’s also top import products are edible oils. According to the import data India, India imports edible and oil seeds in large quantities. Also edible Oils are mainly imported from the USA and Canada.
According to information on edible oil exports from India, 7,070 shipments of edible oil were made between March 2023 and February 2024. With 300 Indian exporters shipping goods to 1,798 buyers, exports increased by 115% over the previous 12 months.
India’s top import products are food grains. It also plays a significant role in growing the economy. Last few years back, India faced an acute shortage of food grains. According to the import export data, food grains were imported from America, Australia, Canada, Burma and Argentina.
As we know, India is still dependent on the production of iron and steel. Also, it imports steel every year. According to the import data, it is imported from the USA, UK, Italy and France to fulfil the economic requirements.
So, these are the top imports of India. However, if you are looking for updated insights on India import data, import from India to the USA, or most imported products in India, connect with Seair Exim Solutions today.
If you are in the business of imports, then you must know about the – most common risks concerned in importing and the measures to minimize them. Starting and operating a business is a rollercoaster ride, so you should be aware of the risks involved and how to deal with any potential dangers to your company. To minimize any risk or threat, you can get the best import business advice from the best Import Export Data provider. You can visit the Seair Exim solutions to see the available Custom data and import export data India.
Some of the Key highlights of Seair Exim Solutions are:
Data import export is compiled from shipping companies and customs offices in ports all around the world. India exports and imports data contains details about the product, such as its description, quantity, price, and HS, or Harmonized Code. The importer's name and contact information. Using this information, businesses can also learn about profitable items from their competitors, the international prices of raw commodities they buy from other nations, and the state of their inventories.
Seair Exim Solutions is an import export data provider company that offers reliable, latest and genuine global trade data of 100+ countries. We provide Indonesia import and export data, India Import Data, Indian export data, and Indonesia customs data etc. So, consider checking out the Seair Exim Solutions platform to obtain global data customized to your requirement.
Q1. What are the main imports of India?
The most imported products in India are Jewellery, heavy machinery, plastic, transport equipment, petroleum products, and chemical fertilizers.
Q2. What are the 10 most imported products from the world?
Electronics, Jewellery, heavy machinery, plastic, transport equipment, petroleum products, chemical fertilizers, edible oils, and food grains are the 10 most imported products from the world.
Q3. What is India's largest source of imports?
China was India's top import source, with $65.89 billion in shipments. This was a 9.8% increase year-on-year.
Q4. What does India import from China?
India imports many products from China, including electronics, fertilizers, machinery, iron and steel, and organic chemicals.
Q5. What is the most profitable product to import in India?
Some of the most profitable products to import into India include electronics and gadgets, fashion and apparel, chemicals, machinery and equipment, and electronics and appliances.
Q6. What is the India import list in 2024?
India's top import sources in August 2024 were: China ($10.8 billion), United Arab Emirates ($6.38 billion), Switzerland ($3.95 billion), United States ($3.82 billion), and Russia ($3.58 billion).
Top imports of India: Electronics
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