What Are the Major Imports and Exports of India?
As of 2014, the major exports from India are engineering goods, refined petroleum, gems, jewelry, chemicals, agricultural products and textiles. As of 2012, the major Indian imports were crude petroleum, gold, coal briquettes, diamonds and petroleum gas. India’s main export partners are the United States, the United Arab Emirates, China, Singapore and the Netherlands.
During 2012, India’s main import partners were China, United Arab Emirates, Saudi Arabia, Switzerland and the United States. During this time, India was the leading exporter of jewelry, rice, non-retail pure cotton yarn, vegetable saps, other oily seeds, essential oils, tug boats and cyclic alcohols; however, these products were not its main export goods. The total value of India’s export trade for 2012 was $275 billion, while the import trade was valued at $448 billion. The import and export trade in India is regulated by the government of India by means of the Foreign Trade (Development and Regulation) Act of 1992. This law allows the Indian government to have complete control over India’s imports and exports. Oversight of the import and export trade is conducted by the Director General of Foreign Trade from within the Ministry of Commerce and Industry. The Department of Commerce within the Ministry has jurisdiction over the offices of the Director General of Foreign Trade.