FOREIGN TRADE

INDIA

I
period 1970-2011.

ntroduction

This project is a descriptive study of the trends in Indias foreign trade from the

In the following pages, we have made an attempt to study, analyse, compare trends of Indias exports and imports for the above mentioned period, the composition of exports & imports and any change in the same thereon, direction of foreign trade to various countries and the respective percentage changes of trade in each category of countries. All data used during the course of work is from The Handbook of Statistics www.rbi.org.in Data have been divided into different, appropriate periods for the sake of comparison and averages have been taken to give an overall view. Aggregates for commodity types not considering the subheads, are taken in order to maintain simplicity and represent and analyse the data in a better manner. Similarly, categories of countries and not every single one has been accounted for. However, the break-ups for all of these have been provided, immediately following the respective chart.

What is Foreign Trade?

Foreign trade can be considered a number of different things, depending on the type of trade one is talking about. Generally speaking, foreign trade means trading goods and services that are destined for a country other than their country of origin. Foreign trade is all about imports and exports. The backbone of any foreign trade between nations is those products and services which are being traded to some other location outside a particular country's borders. Some nations are adept at producing certain products at a cost-effective price. Perhaps it is because they have the labor supply or abundant natural resources which make up the raw
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materials needed. No matter what the reason, the ability of some nations to produce what other nations want is what makes foreign trade work.

Important concepts and terms

OECD countries
The Organization for Economic Co-operation and Development (OECD) is an international economic organization of 34 countries founded in 1961 to stimulate economic progress and world trade. It is a forum of countries committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify good practices, and co-ordinate domestic and international policies of its members.

OPEC countries
OPEC (Organization of Petroleum Exporting Countries) is an intergovernmental organization of 12 oil-producing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has maintained its headquarters in Vienna since 1965 and hosts regular meetings among the oil ministers of its Member Countries.

Economic Liberalization in India

The economic liberalization in India refers to ongoing economic reforms in India that started on 24 July 1991. In the 1980s, Prime Minister P. V. Narasimha Rao initiated some reforms. In 1991, after India faced a balance of payments crisis, it had to pledge 20 tons of gold to Union Bank of Switzerland and 47 tons to Bank of England as part of a bailout deal with the International Monetary Fund (IMF). In addition, IMF required India to undertake a series of structural economic reforms. As a result of this requirement, the government of P. V. Narasimha Rao and his finance minister Manmohan Singh (the present Prime Minister of India) started breakthrough reforms, although they did not implement many of the reforms IMF wanted. The new neo-liberal policies included opening for international trade and investment, deregulation, initiation of privatization, tax reforms, and inflation-controlling measures. The main objective of the government was to transform the economic system from socialism to
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capitalism

so

as

to

achieve

high

economic

growth

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and industrialize the nation for the well-being of Indian citizens. Today India is mainly characterized as a market economy.

Indias Foreign Trade 1970 to 1981

The above chart represents Indias foreign trade from the financial year 1970-71 to

1980-

81.The X-axis represents the time period and the Y-axis, the amount of Rupees in crores. As we observe, there has been a trade deficit for all years except 1972-73 & 1976-77.In 1972-73, exports increased by 22.6% thus causing a trade surplus. Part of the explanation for increase in exports in 1972-73 lied in certain temporary factors like credit financed export to Bangladesh. Despite significant efforts at import liberalization, imports decreased by 32.28% which led to a trade surplus of 68.9
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Indias Foreign Trade 1980 to 1991

The above chart represents Indias foreign trade from the financial year 1980-81 to 1990-91.The exports remained sluggish due to internal constraints and an unfavorable international environment. As a result the trade deficit during 1980-81 was Rs 5838.4 crore as against Rs 2724.2 crore in 1979-80 and a much lower figure of Rs 1084.6crore in the year 1978-79.The bulk of increase in trade deficit was on account of the rise in the value of imports since 79-80. A major reason for this was the sharp
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escalation in oil and other prices. Nearly 60% of Indias imports accounted for oil , fertilizer, edible oil and steel.

Indias Foreign Trade 1990 to 2001

The above chart represents Indias foreign trade from the financial year 1990-91 to 2000-01.All the years experience a trade deficit. However, the trade balance in the year 1993-94 was only Rs.3349.9 crore. This was the fruit of the initial array of reforms. Also The Export-Import Policy announced on April 1, 1993 provided a greater thrust to exports from agriculture and

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labour-intensive sectors. However, the graph also shows the highest trade balance in the year 1999-2000 of Rs.55675.1 crore.

Indias Foreign Trade 2001 to 2011

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The above chart represents Indias foreign trade from the financial year 2000-2001 to 2010 -2011. The chart shows increases in exports, imports as well as trade balances. The decade begins with a trade deficit of Rs.27302 crore. Also, we see, the quantum of trade increasing drastically from 2007 onwards with the highest trade deficit of Rs.533681 crore in the financial year 2008-09. The gap between exports & imports (trade balance) has been more than ever in last 3 to 4 years. The chart ends with a trade deficit of Rs.447840 crore in2010-11.

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The above chart represents the proportions of various commodities to the total exports of India for the period 1970-80 (average of 11 years taken). As the pie-chart shows, manufactured goods contribute a good part of the total exports i.e.1471.5 which is 39% of the total exports. This is followed by food and live animals whose contribution is 27% after which comes miscellaneous manufactured articles.

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The above chart represents the various proportions of different commodities in the total exports of India for the 7 year period from 1980-87 (average of 7 years taken).There is not much change in the proportions, manufactured goods contributing most (33%)followed by food and live animals and miscellaneous manufactured articles. The total exports on an average for the 7 year period was Rs.9740 crore.

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The above chart represents the proportions of various commodities in Indias total exports for the 12 year period 1987-1999 (average of 12 years taken).Textile and Textile Products form a good part of the total exports (27%).The next highest share is that of agricultural products (20%) followed by gems and jewellery (17%) and then engineering goods (15%).The total exports is Rs.70108 crore. An important note here is the change in the composition of exports from the earlier periods (1970-87).

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The above chart represents the proportions of various commodities in the total exports of India for the 12 year period 1999-2011 (average taken). Engineering goods form the highest share in the total exports of 23% which is more than a lakh crore of rupees from the total of about 5 lakh crores. Textiles also contribute well to the total exports (16%).Chemical and petroleum products form a share of 13% each in the total exports. A positive change in the composition of exports as compared to the earlier decades is that not one commodity accounts for a major share in the total exports (eg. manufactured goods in 70s or textiles in 90s), but there is a balanced mix of various commodities claiming good share in the total exports.

TABLE 130 (b) : EXPORTS OF PRINCIPAL COMMODITIES RUPEES I)

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Primary Products

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A) Agriculture and Allied Products

1) . Tea 2) Coffee 3) Rice 4) Wheat 5) Cotton Raw including Waste 6) Tobacco 7) Cashew including Cashew Nut Shell Liquid 8) Spices 9) Oil Meals 10) Fruits and Vegetables 11) Processed Fruits, Juices, Miscellaneous Processed Items 12) Marine Products
13)Sugar and Molasses

14) Meat and Meat Preparations 15) Other Agriculture and Allied Products B) Ores and Minerals 1) Iron Ore 2) Mica 3) Other Ores and Minerals II Manufactured Goods 1) A Leather and Manufactures 2) Chemicals and Related Products 3) Basic Chemicals, Pharmaceuticals & Cosmetics 4) Plastic and Linoleum Products 5) Rubber, Glass, Paints, Enamels and Products 6) Residual Chemicals and Allied Products
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II C Engineering Goods 1) Iron & Steel 2) Manufacture of Metals 3) Machinery and Instruments
4) Transport Equipment

5) Electronic Goods 6) Other Engineering Goods II D Textile and Textile Products

1) Cotton Yarn, Fabrics, Made-up, etc 2) Natural Silk Yarn, Fabrics, Made-up, etc.,incl. Silk Waste 3) Manmade Yarn, Fabrics, Made-up, etc 4) Manmade Staple Fiber 5) Woolen Yarn, Fabrics, Made-up, etc

6) Readymade Garments 7) Jute & Jute Manufactures 8) Coir & Coir Manufactures 9) Carpets 10) Carpet Handmade
11)Carpet Mill made

12) Silk Carpets II E) Gems and Jewellery II F) Handicrafts (excluding Handmade Carpets) II G) Other Manufactured Goods III Petroleum Products IV Others (All Commodities)

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The above chart represents the proportions of various commodities in Indias total imports for the 12 year period 1987-1999 (average of 12 years taken).As clearly shown by the above chart, the major chunk of Indias imports is that of Petroleum and Crude products. They form 35% of the total imports of the country. Following Petroleum and Crude products, next in line are Capital goods constituting 25% of total imports.
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The above chart represents the proportions of various commodities in Indias total imports for the 12 year period 1999-2011 (average of 12 years taken).The composition of Indias imports havent changed much compared to the 12 year period 1987-1999, with Petroleum and Crude products still contributing the most to the total imports. They form a good 33% of the total imports which is more than a lakh of crores of Rupees. The second highest amount of imports is contributed by two-Capital goods and Others with each category forming quarter on the total Indian exports. Thus, the composition of Indias imports has more or less remained the same throughout.

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TABLE 132 (b) : IMPORTS OF PRINCIPAL COMMODITIES RUPEES I Bulk Imports I.A Petroleum, Crude and Products I.B Bulk Consumption Goods 1. Cereals and Cereal Preparations 2. Edible Oils 3. Pulses 4. Sugar I.C Other Bulk Items 1. Fertilizers 1 (a) Crude 1 (b) Sulphur and Unroasted Iron Pyrites 1 (c) Manufactured 2. Non-Ferrous Metals 3. Paper, Paper Boards, Manufactures including News Prints 4. Crude Rubber, including Synthetic and Reclaimed 5. Pulp and Waste Paper 6. Metalliferrous Ores, Metal Scrap, etc 7. Iron and Steel II. Non-Bulk Imports II.A Capital Goods 1. Manufactures of Metals 2. Machine Tools 3. Machinery except Electrical and Electronic 4. Electrical Machinery except Electronic 5. Electronic Goods 6. Computer Goods
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7. Transport Equipment 8. Project Goods II.B Mainly Export Related Items 1. Pearls, Precious and Semi-Precious Stones 2. Organic and Inorganic Chemicals 3. Textile Yarn, Fabrics, Made-Ups, etc 4. Cashew Nuts II.C Others 1. Gold and Silver 1 (b) Silver 2. Artificial Resins and Plastic Materials, etc 3. Professional, Scientific Controlling Instruments, Photographic Optical Goods 4. Coal, Coke and Briquettes, etc 5. Medicinal and Pharmaceutical Product 6. Chemical Materials and Products 7. Non-Metallic Mineral Manufactures 8. Others

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Invisibles Trade

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The above chart represents Indias foreign trade in invisibles. Data from 1987-2011 has been divided into four 6 year periods as follows: 1987-1993 (referred to as Period 1 hereon), 19931999 (Period 2), 1999-2005 (Period 3) and 2005-2011 (Period 4). The above line graph shows trends of the various categories of invisibles. A glance at the graph shows clear comparison between the four above-mentioned periods with respect to the net amount of each category. Period 1: The net amount of all categories of invisibles in Period 1 lies in the same range. Period 2: In Period 2, the net of income decreases to 11948.Net Private Transfers increase to 33595.Official transfers remain in the same range while net Invisibles increase to 26205. Period 3: Period 3 sees great changes with net Private Transfers reaching 75945 and Invisibles reaching 87144.Not much change in net Income and net Official transfers are seen. Period 4: Period 4 witnesses the greatest changes in net non-factor services, private transfers & invisibles. Their respective amounts are: 171204, 184016 & 319688. The net income decreases to 36420. Net official transfers remain in the same range.

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TABLE 145: INVISIBLES BY CATEGORY OF TRANSACTIONS RUPEES I.A) Non-factor Services, Net (I.A.1 to I.A.5) I.B) Non-factor Services, Receipts (I.B.1 to I.B.5) I.C) Non-factor Services, Payments (I.C.1 to I.C.5) I.A.1) Travel, Net I.B.1) Travel, Receipts I.C.1) Travel, Payments I.A.2) Transportation, Net I.B.2) Transportation, Receipts I.C.2) Transportation, Payments I.A.3) Insurance, Net I.B.3) Insurance, Receipts I.C.3) Insurance, Payments I.A.4) G.n.i.e., Net I.B.4) G.n.i.e., Receipts I.C.4) G.n.i.e., Payments I.A.5) Miscellaneous, Net I.B.5) Miscellaneous, Receipts I.C.5) Miscellaneous, Payments II.Income, Net II.Income, Receipts II.Income, Payments II.A.1.Investment Income, Net II.A.1.Investment Income, Receipts II.A.1.Investment Income, Payments II.A.2.Compensation of Employees, Net II.A.2.Compensation of Employees, Receipts
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II.A.2.Compensation of Employees, Payments III.Private Transfers, Net III.Private Transfers, Receipts III.Private Transfers, Payments IV.Official Transfers, Net IV.Official Transfers, Receipts IV.Official Transfers, Payments V.Invisibles, Net (I to IV) V.Invisibles, Receipts (I to IV) V.Invisibles, Payments (I to IV)

Direction of Foreign Trade

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The above chart represents Indias foreign trade with OECD countries. The time period is divided into three 8-year periods namely, 1987-1995(referred hereon as Period 1), 19952003(Period 2) and 2003-2011(Period 3).The increase in exports from Period 1 to Period 2 is 252% and the corresponding figure for imports is 211%. Thus we see, both exports & imports have grown consistently. Comparing period 3 to Period 2, exports have increased by 183% and imports, by 267%. Thus, exports have not increased as much as the imports have.

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The above chart represents Indias foreign trade with OPEC countries. The time period is divided into three 8-year periods namely,1987-1995(referred hereon as Period 1) , 19952003(Period 2) and 2003-2011(Period 3).Considering exports, there has been an tremendous increase by 391% from Period 1 to Period 2 with only a modest increase in the imports (relative to the exports) by 195% . Further, from Period 2 to Period 3 exports increase by 567%.The corresponding increase in imports is 827%. Such huge jumps in this period arise due to the Liberalization policies in early 90s.

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The above chart represents Indias foreign trade with Eastern European countries. The time period is divided into three 8-year periods namely, 1987-1995(referred hereon as Period 1), 1995-2003(Period 2) and 2003-2011(Period 3).Comparing Period 2 to Period 1, exports have increased by only 34% whereas imports have gone up by 84%. Further comparing Period 3 to Period 2, exports have increased by 69% and imports take a huge jump by 333%.Thus,trade with Eastern Europe has increased in the last decade with imports in the period 2003-2011 averaging to Rs.19,231 crores .

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The above chart represents Indias foreign trade with developing countries. The time period is divided into three 8-year periods namely,1987-1995(referred hereon as Period 1) , 19952003(Period 2) and 2003-2011(Period 3).There has been a surge in exports in Period 2 from Period 1 measuring an increase as much as 421%.The corresponding imports has been 384%. Comparing Period 3 to Period 2, we see imports increasing by 416% which again, is a huge rise whereas the imports by the same comparison increased by 598%. There has been a remarkable increase in the quantum of trade with Developing countries.

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The above chart represents Indias foreign trade with African countries. The time period is divided into three 8-year periods namely, 1987-1995(referred hereon as Period 1), 19952003(Period 2) and 2003-2011(Period 3). Studying the trends in exports over the three periods, we find increases in exports by 557% from Period 1 to Period 2, 422% from Period 2 to Period 3. Following the same for imports, increases are: 514% from Period 1 to Period 2 and 271% from Period 2 to Period 3. Thus, exports have improved considerably while imports not increasing as much.

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The above chart represents Indias foreign trade with Latin American countries. The time period is divided into three 8-year periods namely, 1987-1995(referred hereon as Period 1) , 1995-2003(Period 2) and 2003-2011(Period 3). Studying the trends in exports over the three periods, we find increases in exports by 698% from Period 1 to Period 2, 554% from Period 2 to Period 3. Following the same for imports, increases are: 231% from Period 1 to Period 2 and 562% from Period 2 to Period.
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The Direction of Foreign Trade The OPEC countries include the following:1) Indonesia 2) Iraq 3) Iran 4) Kuwait 5) U.A.E. 6) Saudi Arabia Eastern European countries includes:1) Romania 2) Russia Developing countries includes:1) SAARC 2) Afghanistan 3) Bangladesh 4) Bhutan 5) Maldives 6) Nepal 7) Pakistan 8) Sri Lanka 9) China 10) Hong Kong 11) South Korea 12) Malaysia 13) Singapore 14) Thailand

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All African countries include:1) Benin 2) Egypt 3) Kenya 4) South Africa 5) Sudan 6) Tanzania 7) Zambia 8) Other Latin American countries 9) Others/unspecified

A) Export of principal commodities Food and live animals:1) Fish and fish preparation 2) Cereals and cereals preparations 3) Fruits and vegetables 4) Cashew kernel Others 1) Coffee 2) Tea 3) Spices 4) Pepper black 5) Others 6) Feeding stuffs for animals 7) Sugar & honey 8) Others Beverages & tobacco
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1) Tobacco unmanufactured 2) Others Crude materials inedible except fuels 1) Hides skin &fur skin Raw 2) Wool & other animal hair
3) Cotton textile fiber & waste 4) Jute textile fiber & waste

5) Mica 6) Iron ore & concentrates 7) Manganese ore 8) Lac 9) Others Minerals fuels lubricants & related materials 1) Petroleum crude & partly refined 2) Petroleum products 3) Others Animal & vegetable oils & fats 1) Fixed vegetables oils & fats 2) Others

Chemicals 1) Chemical elements & compounds

2) Dyeing tanning & coloring materials

3) Medical & pharmaceutical products 4) Essential oils & perfume material 5) Plastic Materials Regenerated Cellulose and Artificial Re 6) Others
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Manufactured Goods Classified Chiefly by Material 1) Leather and Manufactures & Dressed Fur Skins
2) Cotton Manufactures Excluding Yarn and Thread & Clothing

3) Textile Yarn and Thread 4) Jute Manufactures Excluding Twist and Yarn
5) Woolen Carpets and Rugs 6) Pearls precious and Semi-Precious Stones 7) Manufacture of Metals

8) Iron and Steel 9) Non-Ferrous metals 10) Others Machinery and Transport Equipment 1) Machinery Other than Electric
2) Electrical Machinery Apparatus & Appliance

3) Transport Equipment Miscellaneous Manufactured Articles 1) Footwear 2) Clothing 3) Others

4) Commodities and Transactions

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WORLD TRADE ORGANISATION

hat is the WTO?

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the worlds trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business. The WTO was born out of negotiations, and everything the WTO does is the result of negotiations. The bulk of the WTOs current work comes from the 198694 negotiations called the Uruguay Round and earlier negotiations under the General Agreement on Tariffs and Trade (GATT). The WTO is currently the host to new negotiations, under the Doha Development Agenda launched in 2001. Where countries have faced trade barriers and wanted them lowered, the negotiations have helped to open markets for trade. But the WTO is not just about opening markets, and in some circumstances its rules support maintaining trade barriers for example, to protect consumers or prevent the spread of disease. At its heart are the WTO agreements, negotiated and signed by the bulk of the worlds trading nations. These documents provide the legal ground rules for international commerce. They are essentially contracts, binding governments to keep their trade policies within agreed limits. Although negotiated and signed by governments, the goal is to help producers of goods and services, exporters, and importers conduct their business, while allowing governments to meet social and environmental objectives. The systems overriding purpose is to help trade flow as freely as possible so long as there are no undesirable side effects because this is important for economic development and
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well-being. That partly means removing obstacles. It also means ensuring that individuals, companies and governments know what the trade rules are around the world, and giving them the confidence that there will be no sudden changes of policy. In other words, the rules have to be transparent and predictable. The WTO is run by its member governments. All major decisions are made by the membership as a whole, either by ministers (who usually meet at least once every two years) or by their ambassadors or delegates (who meet regularly in Geneva). While the WTO is driven by its member states, it could not function without its Secretariat to coordinate the activities. The Secretariat employs over 600 staff, and its experts lawyers, economists, statisticians and communications experts assist WTO members on a daily basis to ensure, among other things, that negotiations progress smoothly, and that the rules of international trade are correctly applied and enforced.

ole of EXIM bank in Indias foreign trade

Export-Import Bank of India is the premier export finance institution of the country, set up in 1982 under the Export-Import Bank of India Act 1981. Government of India launched the institution with a mandate, not just to enhance exports from India, but to integrate the countrys foreign trade and investment with the overall economic growth. Since its inception, Exim Bank of India has been both a catalyst and a key player in the promotion of cross border trade and investment. Commencing operations as a purveyor of export credit, like other Export Credit Agencies in the world, Exim Bank of India has, over the period, evolved into an institution that plays a major role in partnering Indian industries, particularly the Small and Medium Enterprises, in their globalisation efforts, through a wide range of products and services offered at all stages of the business cycle, starting from import of technology and export product development to export production, export marketing, pre-shipment and post-shipment and overseas investment.
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onclusion

In hindsight of this project work, a fair idea on the foreign trade over the period of 1970-2011
has been obtained. As far as the quantum of trade is concerned, India has come a long way from exporting only 1,535 crores in 1970-71 to 11,57,475 crores in 2010-11. Imports too follow similar trends. Despite this achievement, the supreme issue of trade deficit has persisted. Huge amounts of trade deficits, leaving scars on our Balance of Payments, have nagged our ministers and the government for what seems an eternity. Figures show their failure in implementing remedial measures for healing this deficit. One major source of this problem, as observed in the course of our work, is the enormous amounts of imports of Petroleum and Crude products. For resolving this, efforts have to be made in tapping our own oil resources and thus becoming self-sufficient in oil production. Attempts for the same have already begun. In conclusion, our only hope, on studying the present scenario is that, in years to come, we, as a country may courageously strive to resolve this issue of trade deficit using appropriate measures and policies, and thus bring about equilibrium in our international trade.

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Year 1970-71 1971-72 1972-73 1973-74 1974-75 1975-76 1976-77 1977-78 1978-79 1979-80 1980-81 Exports
1535.3 1608.2 1971.5 2523.4 3328.8 4036.3 5142.7 5407.9 5726.1 6418.4 6710.7

Imports
1634.2 1824.5 1867.4 2955.4 4518.8 5264.8 5073.8 6020.2 6810.6 9142.6 12549.2

Trade Balance
-99 -216.4 104 -432 -1190 -1228.5 68.9 -612.4 -1084.6 -2724.2 -5838.4

Year 1980-81 1981-82 1982-83 1983-84 1984-85 1985-86 1986-87 1987-88 1988-89 1989-90

Exports
6710.7 7805.9 8803.4 9770.7 11743.7 10894.6 12452 15673.7 20231.5 27658.4

Imports
12549.2 13607.6 14292.7 15831.5 17134.2 19657.7 20095.8 22243.7 28235.2 35328.4

Trade Balance
-5838.4 -5801.7 -5489.4 -6060.8 -5390.5 -8763.1 -7643.8 -6570.1 -8003.7 -7669.9

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Year 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00

Exports
32557.6 44041.8 53688.3 69751.4 82674.1 106353.3 118817.1 130100.6 139753.1 159561.4

Imports
43192.9 47850.8 63374.5 73101 89970.7 122678.1 138919.7 154176.3 178331.9 215236.5

Trade Balance
-10635.2 -3809 -9686.3 -3349.6 -7296.6 -16324.8 -20102.6 -24075.7 -38578.7 -55675.1

Year / Item 1987-1993 1993-1999 1999-2005 2005-2011

Non-factor Services, Net 1760.5 3256 29053.33 171204.3

Income, Net -6147.83 -11947.5 -19667.5 -36419.7

Private Transfers, Net 5909.667 33594.5 75945.17 184016.3

Official Transfers, Net 862.5 1302 1813.167 886.6667

Invisibles, Net 2384.833 26205 87144.17 319687.7

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Year/ Commodity 1970-1980 Food and Live Animals

Year/ Commodity

FOREIGN TRADE
1980-1987 Food and Live Animals

INDIA

1033.6 Beverages and Tobacco 84.7 Crude Materials Inedible Except Fuels Crude Materials Inedible Except Fuels Beverages and Tobacco

2189.33

191.7

435.6 Mineral Fuels Lubricants and Related Materials Mineral Fuels Lubricants and Related Materials

943,33

23 Animal and Vegetable Oils and fats Animal and Vegetable Oils and fats

854.09

29.3 Chemicals 97.4 Manufactured Goods Classified Chiefly by Material Manufactured Goods Classified Chiefly by Material Chemicals

36.04 378.6

1471.5 Machinery and Transport Equipment Machinery and Transport Equipment

3192.76

232.7 Miscellaneous Manufactured Articles Miscellaneous Manufactured Articles

638.91

349.1 Commodities and Transactions. 13 Total Exports 3769.9 Total Exports Commodities and Transactions.

1287.23

28.19 9740.14

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Year/ Commodity

1987-1999

Year/ Commodity

1999-2011

Agriculture and Allied Products

12544.27

Agriculture and Allied Products

53252.39

Ores and Minerals

2395.33

Ores and Minerals

23322.38

Chemicals and Related Products

7820.9

Chemicals and Related Products

65489.16

Engineering Goods

9484.6

Engineering Goods

113180.1

Textile and Textile Products

17672.98 11103.06 1999-2011 108555 1034.98

Textile and Textile Products

70050.49 77290 1987-1999 192038 2159.71

Gems and Jewellery

Gems and Jewellery

Year/ Commodity Petroleum, Crude and Products Handicrafts (excluding Handmade Carpets)

Year/ Commodity Petroleum, Crude and Products Handicrafts (excluding Handmade Carpets)

Bulk Consumption Other Manufactured Goods Goods

9625.72 496.2

Bulk Consumption Other Manufactured Goods Goods

14508.09 4347.14

Capital Goods Petroleum Products Mainly Export Related Items Others (All Commodities) Total

79763.69 910.75 44590.89 764.88 70108

Capital Goods Petroleum Products Mainly Export Related Items Others (All Commodities) Total

129966.56 64700.85 71458.78 16200.13 501985

Others

80690.22

Others

133519.7

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Total Imports/All Commodities

360529

Total Imports/All Commodities

631846.88

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INTRODUCTION 1

IMPORTANT CONCEPTS & TERMS

INDIA EXPORTS, IMPORTS, TRADE BALANCES

EXPORT OF PRINCIPAL COMMODITIES

IMPORT OF PRINCIPAL COMMODITIES

EXPORT & IMPORT OF INVISIBLES

DIRECTION OF FOREIGN TRADE

CONCLUSION

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INDIA - FOREIGN TRADE

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Work by: Thripthi acharya 1 Shilpa Bhagat Albina Chettiar Prajesh Nair -6 -7 -30

Amruta Sawant -37

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