India's Foreign Trade

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Recent Trends in Foreign Trade and the composition of Imports and exports along with its composition over the last ten years.

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India's Foreign Trade

  1. 1. Recent Trends in India’s Foreign Trade Presented By: Indransh Gupta Kunal Modi
  2. 2. What is Foreign Trade Policy?• Union Commerce Ministry, GoI announces integrated FTP every five year also called EXIM policy.• policy updated every year with some modifications & new schemes.• FTP which was announced on August 28, 2009 is an integrated policy for the period 2009-14.
  3. 3. Foreign Trade Policy 2009-14 Short Term Objectives:• arrest and reverse the declining trend of exports.• provide support to those sectors which have been hit badly by recession. Medium term Policy Objectives :• achieve an Annual Export growth of 15% by March 2013.• achieve Annual Export growth of around 25% by 2014. Long Term Objective :• doubling India’s share in Global Trade by 2020.
  4. 4. Targets• Export Target : $ 350 Billion for 2012-13• Export Growth Target: 15 % for next two year and 25 % thereafter.
  5. 5. Import/Export ControlsIMPORTS:• Around 5% Tariff Lines are under Import Controls.• 11600 Tariff Lines are free for import.• Restrictions removed over the next 10 years, removing almost all the Quantitative Restrictions.• Presently:  Prohibited items - 53 Lines  Restricted items - 485 Lines  State Trading Items - 33 Lines.
  6. 6. Import/Export ControlsEXPORTS:• Controls primarily on account of security, public health, morals, exhaustible resources and environment grounds.  Prohibited items - 59  Restricted items - 155  State Trading Items - 12• Restrictions fall under two Categories:-  Special provision for these items under Weapons of Mass Destruction Act, 2005.  Export Facilitation Committee looks into applications for license for these items. {Special chemical ,organisms, materials, equip. & tech.}
  7. 7. Highlights• Q1 of 2012-13, exports stood at US$ 75.2 bn and showed a decline of 1.7 per cent as against an increase of 36.4 per cent during Q1 of 2011-12.• Q1 of 2012-13, imports declined by 6.1 percent over the corresponding quarter of 2011-12 and stood at US$ 115.3 billion.• Lower growth in POL imports at 5.5 percent during Q1 of 2012-13 as compared with 52.5 percent during Q1 of 2011-12.
  8. 8. Highlights• Imports of gold and silver, US$ 9.4 bn during Q1 of 2012-13 were 48.4 per cent lower than that in Q1 of 2011-12.• Non-oil non-gold imports during Q1 of 2012-13 at US$ 65.3 bn recorded a decline of 2.9 per cent as compared to an increase of 18.9 per cent in Q1 of preceding year.• Trade deficit during Q1 of 2012-13 stood lower at US$ 40.1 bn as compared with US$ 46.2 bn during Q1 of 2011-12.
  9. 9. India’s Foreign Trade•growth is uncertain in coming months, given the worsening globalmacroeconomic outlook and high interest rate in the domestic market.•During April-Sept 2011, Indias imports expanded by 32.4% to $ 233.5billion. The trade deficit during the April-Sept’ 2011 period stood at $ 73.5billion. Increasing Trade Deficit further depreciates Rupee.•depreciation of rupee will also push up cost of imports leading to widertrade deficit in coming times.
  10. 10. Export/Import Share of India as (%) of GDP
  11. 11. Exports of Principal Commodities
  12. 12. Imports of Principal Commodities
  13. 13. Indias Exports to Principal Regions
  14. 14. Indias Imports from Principal Regions
  15. 15. India’s Foreign Trade
  16. 16. Last 10 Years India’s Export/Import Performance
  17. 17. Composition Of India’s Foreign Trade• Composition of Exports
  18. 18. Agricultural and Allied Products• 15% share in exports• Top items of agricultural exports include: - Fish Products - Rice - Oil Cakes - Fruits and Vegetables
  19. 19. Ores and Minerals• 12.3% share in exports. Manufactured Goods• 61.3% share in exports.- Include: Engineering Goods Gems and Jewellery Chemical and Allied Products Readymade Garments
  20. 20. Minerals Fuels and Lubricants• 18.3% share in exports• There has been improvement in the exports of mineral fuels and lubricant both in terms of value and in terms of %.
  21. 21. Composition of Imports
  22. 22. • Petroleum Products 31.7% share in Imports.• Capital Goods 20.3% share in Imports.• Pearls and Precious Stones 6.2% share in Imports.• Iron and Steel 2.4% share of Imports.• Fertilizers 2.4% share of Imports.
  23. 23. Conclusion Composition of India’s Foreign Trade has undergone apositive change. It is a remarkable achievement thatIndia has transformed itself from a predominantlyprimary goods exporting country into non primarygoods exporting country. Under Imports also India’sdependence on food grains and capital goods hasdeclined.

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