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bandera India India: Apertura internacional

Foreign Trade in Figures | Trade Compliance | Standards

Foreign Trade in Figures

India was a protectionist state for a long time, but the country has become progressively more open to international trade.  It has recently signed free trade agreements with South Korea and the ASEAN, and has entered into negotiations with several partners (EU, MERCOSUR, Australia, New Zealand, South Africa). India is the world's seventh largest exporter and importer of commertical services. Trade represents almost 50% of the country's GDP.

India's has a trade deficit. The withdrawal of foreign capital in 2011 led to a fall in the value of the rupee, which worsened the trade balance and in 2011 it reached its highest level since 17 years. India imports almost 80% of its energy and the rise of oil prices is a large item on its imports invoice.

The main trade partners of India are the European Union, the United Arab Emirates, China and the United States.

 
Foreign Trade Indicators 20072008200920102011
Imports of Goods (million USD) 229,370321,032257,202322,702450,957
Exports of Goods (million USD) 150,159194,827164,907216,162296,556
Imports of Services (million USD) 70,38887,76080,274116,140130,068
Exports of Services (million USD) 86,612103,82990,193123,277148,370
Imports of Goods and Services (Annual % Change) 10.023.0-7.313.7-
Exports of Goods and Services (Annual % Change) 5.219.3-6.74.2-
Imports of Goods and Services (in % of GDP) 24.528.924.024.9-
Exports of Goods and Services (in % of GDP) 20.423.519.618.5-
Trade Balance (million USD) -54,827-93,142-79,665-97,934-
Trade Balance (Including Service) (million USD) -42,290-80,755---
Foreign Trade (in % of GDP) 44.952.443.643.3-

Source: WTO - World Trade Organization ; World Bank , Last Available Data

 

Main Partner Countries

Main Customers
(% of Exports)
2010
United Arab Emirates 12.4%
United States 10.7%
China 7.9%
Hong Kong 4.3%
Singapore 4.1%
See More Countries 60.5%
Main Suppliers
(% of Imports)
2010
China 12.3%
United Arab Emirates 8.8%
Switzerland 6.3%
United States 5.8%
Saudi Arabia 5.6%
See More Countries 61.3%

Source: Comtrade, Last Available Data

 

Main Products

Main Exports
(% of Exports)
2010
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 16.6%
Diamonds, whether or not worked, but not mounted...Diamonds, whether or not worked, but not mounted or set (excl. unmounted stones for pick-up styluses, worked stones, suitable for use as parts of meters, measuring instruments or other articles of chapter 90) 10.1%
Articles of jewellery and parts thereof, of...Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal (excl. articles > 100 years old) 3.6%
Iron ores and concentrates, incl. roasted iron...Iron ores and concentrates, incl. roasted iron pyrites 2.8%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.3%
See More Products 64.6%
Main Imports
(% of Imports)
2010
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 24.4%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 10.5%
Diamonds, whether or not worked, but not mounted...Diamonds, whether or not worked, but not mounted or set (excl. unmounted stones for pick-up styluses, worked stones, suitable for use as parts of meters, measuring instruments or other articles of chapter 90) 8.2%
Coal; briquettes, ovoids and similar solid fuels...Coal; briquettes, ovoids and similar solid fuels manufactured from coal 2.7%
Transmission apparatus for radio-telephony,...Transmission apparatus for radio-telephony, radio-telegraphy, radio-broadcasting or television, whether or not incorporating reception apparatus or sound recording or reproducing apparatus; television cameras; still image video cameras and other video camera recorders; digital cameras 1.8%
See More Products 52.4%

Source: Comtrade, Last Available Data

 
 

To go further, check out our service Flujos de importación-exportación.

 

Exchange Rate System

Local Currency
Indian Rupee (INR)
Exchange Rate Regime
Managed floating with no pre-determined path for the exchange rate.
Exchange Rate on :

 
Monetary Indicators 20062007200820092010
Indian Rupee (INR) - Average Annual Exchange Rate For 1 USD 45.3141.3543.5148.4145.73

Source: World Bank - Last Available Data.

 
 

Find out all the exchange rates daily on our service Conversor de divisas.

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Trade Compliance

International Conventions
Member of World Trade Organisation
Party to the Washington Convention on International Trade in Endangered Species of Wild Fauna and Flora
Party to the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal
Party to the Montreal Protocol on Substances That Deplete the Ozone Layer
Party of the International Coffee Agreement 2001
Main International Economic Cooperation
India is a member of the South Asian Association for Regional Cooperation (SAARC) and multilateral and bilateral trade agreements with many countries.
The country have signed a trade agreement with 21 other countries in the São Paulo Round of the Global System of Trade Preferences among Developing Countries (GSTP).
India signed in March 2011 a Tariff-Cutting Trade Treaty with Japan that will eliminate or reduce about 94% of tariffs on the countries’ bilateral trade over a ten-year period.
Party of the ATA Convention on Temporary Admissions and Use of the Carnets
Yes

As a Reminder, the ATA is a System Allowing the Free Movement of Goods Across Frontiers and Their Temporary Admission Into a Customs Territory With Relief From Duties and Taxes. The Goods Are Covered By a Single Document Known as the ATA Carnet That is Secured By an International Guarantee System.
Look Up the Other Member Countries And Read the Web Pages of the World Customs Organization Devoted to the ATA Carnet.
Party of the TIR Convention
No

As a Reminder, the TIR Convention and its Transit Regime Contribute to the Facilitation of International Transport, Especially International Road Transport, Not Only in Europe and the Middle East, But Also in Other Parts of the World, Such as Africa and Latin America.
The UNCTAD Website Allows You to Read the TIR Convention, See the List of Member Countries And to Find Further Information.
Accompanying Documents For Imports

- Manufacturer's Commercial Invoice duly Signed and if possible Bank Attested

- Price list of the commodities in shipment

- Manual and Catalogue , write ups or Technical Literature for laboratory or Electronic equipment

- Import declaration and GATT Declaration sign and stamp by consignee (Two copies)

- Packing List duly signed

- Purchase Order

- Authority letter from Consignee

- Import Duty/ Warehouse / Octroi/ D.O Charges in advance

- Any applicable Special Import License

- Certificate of origin, mill test certificate, test report (applicable for metal and chemical groups only)

- Copy of IEC/BIN Number required from importer.

For clearance of all live plant and flower, a phytosanitary certificate is required from Plant Quarantine Officer.

In case of Drugs and Medicines, prior approval of assistant Drug Controller is necessary.

Delivery of radioactive materials and explosives can only be cleared if bill of entry is accompanied by NOC from the department of atomic energy or the Controller of Explosives.

To go further, check out our service Identifique los documentos de embarque para su operación.

Free Zones
Called Export Processing Zone-EPZ to promote exports. For details visit : Special Economic Zones.
For Further Information
Central Board of Excise and Customs
Ministry of Commerce and Industry
Ministry of Finance
Directorate General of Foreign Trade
Non Tariff Barriers
- Import Licensing: Though India has eliminated its import licensing requirements for most consumer goods, certain products like motorcycles and vehicles still require import licenses.
- Anti-dumping and countervailing measures: Such measures are imposed from time-to-time to protect the domestic manufacturers from dumping.
- Export subsidies and domestic support: Several export subsidies and other domestic support is provided to several industries to make them competitive internationally.
- Procurement: The Indian government allows a price preference for local suppliers in government contracts and generally discriminates against foreign suppliers.
- Service barriers: There are still some restrictions for foreign companies to enter some service-oriented sectors like insurance, banking, securities, motion pictures, accounting, construction, architecture and engineering, retailing, legal services, express delivery services and telecommunication.
- Other barriers: Equity restrictions and other trade-related investment measures are in place to give an unfair advantage to domestic companies.

For the most current information on India’s Prohibited Import List, please see: www.exim.indiamart.com/freedlist/prohibited.html

Sectors or Products For Which Commercial Disagreements Have Been Registered With the WTO
For details, refer to the section "India and WTO" on the website of Ministry of Commerce.
Assessment of Commercial Policy
The WTO pages dedicated to India
Barriers to exchanges, inventoried by the United States
Barriers to exchanges, inventoried by the EU
Sanitary and phytosanitary barriers, inventoried by the EU

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Learn more about How to Export to India on Globaltrade.net, the Directory for International Trade Service Providers.
 
 

Standards

National Standards Organizations
Bureau of Indian Standards(BIS) - Earlier called as Indian Standards Institute (ISI)
Integration in the International Standards Network
The BIS is a founder member of the International Standard organization (ISO) and of the International Electrotechnical Commission (IEC)

 

For more details consult www.bis.org.in.

Obligation to Use Standards
Although the standards proposed by the BIS are “voluntary “ in nature and are not at all mandatory, the Government of India has enforced mandatory certification on various products.

 

For the list of items brought under mandatory certification please consult the website of the Bureau of Indian Standards.

Classification of Standards
The symbol of the standard is ISI. Every ISI mark has a fixed format that carries the Indian Standard number on top of the mark based on the type of product.
Assessment of the System of Standardization
Certification by the BIS is highly regarded in India, and it can increase the sales potential in this market.

Click here for ‘Procedure for Granting BIS Certification'

Online Consultation of Standards
Bureau of Indian Standards (BIS)
Certification Organizations
Quality Council of India

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Last Updates: May 2012

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