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Indian Export Data

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It would be safe to say that the future for Indian trade is bright and the amount of foreign currency flowing into the nation will be on the rise.

It would be safe to say that the future for Indian trade is bright and the amount of foreign currency flowing into the nation will be on the rise.

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  • 1. Indian Export Data- A glimpse into the future An analysis of Indian Export data is important to understand the export scenario of India. Exports are what a country sends to other countries in exchange of mutually accepted currency. Exports are often done only for those products that are in abundance with the exporting country or the exporting country has a monopoly for the manufacture of certain goods. Exports help to bring in foreign currency and most economies encourage exports as this not only makes the population wealthier but also gives the government more wealth to spend on the people’s well being. Some of the sectors in which India sees a great deal of exports are Tea, Jute, IT Hardware & infrastructure, Processed mineral oils and processed fruits and animal products. Present scenario of export in India: Indian Export Data tells us that if current trends are followed the income generated by exports should make India the 5th largest exporter (in $ value) by 2021. India makes 4.8% of its GDP amount every year by export of goods. As mentioned above the sectors powering this growth are Tea, Jute, Processed mineral oils. Exports of these goods along with a few other goods are severely encouraged by the government as they bring in a large amount of foreign currency into the country. Growth sectors in export: The Indian Export data tells us that there are certain sectors where a constant growth can be seen despite the global slowdown and rapidly shifting weather conditions due to global warming. Some of these sectors are given below: • TeaEven with other exquisite tea brands having entered the market, like Srilankan tea the preference and demand for Indian tea is on the rise especially in the European Union, countries along the Yellow sea and countries along the UAE. Some brands of tea are a monopoly to India which is one of the primary reasons why Indian tea is seeing a constant rise in demand. • AutomobilesSince many automobile giants have set up their manufacturing or assembling units in India they export these ready automobiles and automobile spare parts from Indian ports. • Processed oils and related itemsAlthough India does not have enough mineral oil reserves to sustain its domestic demand, it does import a huge amount of crude oil for its many oil refineries. Once these mineral oils have been refined they are often sold to different
  • 2. countries. The by product of the refining process, like wax are also sold to different countries. A look into the future of Indian exports: The Indian Export Data allows us a small view into the future for Indian exports. It tells us that although self sufficiency is not possible in the near future we could be having a future where the globe will depend on Indian products for certain sectors. For more information about Indian export data, Custom export data, Indian import data, or any other types of import/export data in India or any international trade data as well, you can visit at www.seair.co.in Summary: In summary, it would be safe to say that the future for Indian trade is bright and the amount of foreign currency flowing into the nation will be on the rise.