Due to the young population in India, the economic market has been developing rapidly in its potentials. By seeing the nominal GDP India has the 5th largest economy and has the 3rd largest in the purchase by power parities. India needs some powerful trading partners with all the trade surplus to equal their standards against the developing countries. Here are some of the top import trading partners of India.
United States of America
The bilateral trading between these two counties stood at USD 87.95 billion. The USA had combined with china to become the largest trading partner of India. All the experts in this trading system believe that this trend will be continuing for the upcoming years. New Delhi and Washington have been engaging in the further process of economic ties.
China
Before the USA made an impact on India, China was the first one to become the top import trading partner of India and also the major import trading partner of India. The bilateral trade between these two is about 84.32 billion. In which we can only be exporting between 16.32 billion. So we should be trading the deficit of 51.68 billion.
United Arab Emirates
The United Arab Emirates is the 3rd top import trading partner of India. In which we shall be exporting almost around 24.27 billion and importing almost around 25.75 billion. Until now the complete trading value stood up to 50 billion dollars.
Saudi Arabia
Saudi is the 4th ever major import trading partner of India. The bilateral trade stood at almost around 34 billion USD. Exporting 5.5 billion USD goods and importing 28.48 billion USD goods. The major import trading partners of India exporting items to Saudi Arabia like mineral fuels, oils, products, therefore; cereals, boilers, electrical machinery and equipment, and so on. The major import trading partner of India importing items to Saudi Arabia like organic and inorganic chemicals, iron and steel, etc.
Hong Kong
Hong Kong is the 5th largest and top import trading partner of India. India was the biggest and almost huge destination for Hong Kong for the year 2017. Trading of Hong Kong was 34 billion in 2017. India exports 13.77 billion USD and imports 20 billion USD. India exports products like jewels and gems to Hong Kong and imports products like pears and precious stones etc.
Seair Exim Solutions provides customs shipment details of products imported by India with contact details of traders. . We also provide Export Import Data India, custom duty India, HS code list, and global trade information of more than 80 countries in the globe.
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