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INDIA’S TRADING PARTNERS

Date : 27 Jul 2009
Location : New Delhi
 

The details regarding India’s ten largest trading partners during the last three years along with the volume of trade, and net trade balance is as below.  Major items of export/import are available on website of Department of Commerce i.e. on http://www.commerce.nic.in.  

India has taken a number of initiatives to enhance trade in other parts of the world through various trade promotion programmes which aim to promote trade by giving market access initiatives, establishing institutional mechanisms such as Joint Trade Committees, holding fairs & exhibitions and by granting assistance to exporters to promote trade on ustained basis. 

            For offsetting high freight cost and other externalities in select international markets, a new scheme called “Focus Market Scheme” has been launched since 1.4.2006. This allows exporters to get an incentive in the form of freely transferable duty credit scrip @ 2.5% of the FOB value of exports of such products. The initiative aims at enhancing India’s competitiveness for export to identified Focus Markets. To begin with, 8 countries in Latin America, 49 countries in Africa, 10 countries of Commonwealth of Independent States (CIS), 5 countries in Central America and 1 country in Eastern Europe were notified as Focus Markets. 

Top ten largest Trading partners during 2006-07

 

Country

Trade Volume

(Rs. In crores)

Trade Balance

USA

138474

32263

CHINA PRP

116538

-41479

U ARAB EMTS

93620

15270

SAUDI ARAB

72273

-48850

SINGAPORE

52302

2622

GERMANY

52154

-16140

U K

44311

6532

BELGIUM

34463

-3020

JAPAN

33748

-7841

KOREA RP

33126

-10368

 

Top ten largest Trading partners during 2007-08

 

Country

Trade 2007-08

(Rs. In crores)

Trade Balance

USA

168013

-1237

CHINA PRP

152713

-65519

U ARAB EMTS

117148

8682

SAUDI ARAB

93033

-63188

SINGAPORE

62344

-3020

GERMANY

60335

-19137

U K

46909

7026

JAPAN

40973

-9942

HONG KONG

36252

14518

KOREA RP

35789

-12826

 

Top ten largest Trading partners 2008-09 (Apr-Feb)

 

Country

Trade 2008-09

(Rs. In crores)

Trade Balance

CHINA PRP

1,63,202

-92,676

USA

1,55,353

12,254

U ARAB EMTS

1,52,668

-1,934

SAUDI ARAB

1,05,602

-64,303

GERMANY

67,602

-19,497

SINGAPORE

63,280

2,934

U K

  50,144

     524

HONG KONG

  50,129

  1,772

BELGIUM

  41,552

 -5,294

NETHERLAND

  33,099

 19,049

Source : Statistics(DGCI&S)

This information was given by Shri Jyotiraditya M Scindia, Minister of State for Commerce & Industry, in a written reply in the Lok Sabha today.

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RJ/MRS

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