Indian import data – Valuable for the Indian Traders According to the Import Data stated by the Ministry of Commerce & Industry, the overall imports of the country could be estimated to around USD 505.94 billion for the period AprilMarch 2020-21. This thus exhibited a negative growth in the Indian foreign trade of -16.53% over the same period in the last year. Import trade data in India for the period April-March 2020-21 revealed that the area of merchandise had a value of US 389.18 billion dollars, which showed a negative growth of -18.02%. In services, the value was USD 116.75 billion which was also in the negative percentage growth of -11.16%. Thus the overall trade could be calculated to in the negative form of -16.53%. Import in India for March 2021 was calculated to be USD 48.38 billion. This showed an increase of 50.52% in INR terms over imports from the previous year (March 2020). The cumulative value of the imports made by the country for this period was USD 289.18 billion. This showed a downfall in growth by -14.40 from the period April-March 2019-2020 in INR terms. Over the corresponding month from the last year, the commodity groups of imports that showed a negative growth were like: ● ● ● ● ●
Silver of -89.66 percent. Equipment of transport of -32.71 percent Project goods of -32.58 percent Pulses of -13.89% Fertilizers, Crude & Manufactured of -5.61%.
The import data in merchandise also showed that oil imports in the month of March 2021 were USD 10.27 billion. This value was 0.08 percent higher than the estimation made in March 2020. Where on the other hand, the imports that were of non-oil were estimated to be USD 3811 billion in March 2021 and showed 74.17 percent higher in Indian currency when compared to the value of March 2020. The provisional Export import data of India recorded for the period of April-March 2019-20 in exports was INR 22,19,854.18 crore whereas it was INR 21,50,325.03 crore in 2020-21. This thus showed that there were only -3.13 percent growths. In imports the value for the period April-March 2019-2020 was INR 33, 60,954.46 crores whereas on the other hand in 2020-21 was INR 28, 76,918.30 crores. Thus this showed a -14.40 growth in the imports. Among all the commodities that are imported to India and had less percentage of growth were leather and leather manufactures. And the maximum growth of percentage was seen in the marine products for the period April-February 2020-21. Companies who are engaged with trading activities will get proper knowledge through this import trade data about the current condition of the import trading activities with which the country is involved in.