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Economic Markets and Structures - India's major exports

India's exports have grown, on average, by 21.7% (in rupees) in the passed ten years. Some of their major commodities that they export to the world include...

  • Plantations
  • Agriculture
  • Marine Products
  • Ores and Minerals
  • Leather Manufacturers
  • Gems and Jewelry
  • Engineering Goods
  • Textiles
  • Petroleum
  • Software and Service

In 2007, India's exports totaled up to about $151.3 billion. It had no Natural gas exports, exported 350,000 bbl/day (2005 est.) of oil, and had 67 million kWh (2005) of electricity exports.


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Contents

India's Trade Partners

India trades with a variety of countries. The major countries included in 2007 were the US (15%), China (8.8%), UAE (8.7%), and the UK (4.4%). India's export relation with U.S. India most commonly exports with the U.S. more than any other country.

Some of the major exports to the U.S. include:


  • Cotton furnishings
  • Diamonds
  • Jewellry
  • Medicinal preperations
  • Iron and steel products
  • Industrial Machinery
  • Industrial organic chemicals
  • Generators, Transformers and accessories


Zinc, sugar & steel are the fastest growing Indian exports to the U.S.

Zinc exports to the U.S. increased 51,000% from 2005 to 2006.

Sugar went up 25,400% and steel 286%.


In 2006, India exported 21.8 billion US dollars worth of merchandise to the U.S.


Major Export on the rise

India's software and service export industry is on a big increase. In the fiscal year of 2004-2005, revenue from the export of this industry went up 34.5 percent from the previous year. The revenue totaled up to $17.2 billion. $5.2 billion came from call centers and business process outsourcing services.

The remaining $12 billion was generated by software and other services.

Some of these major services include:

  • Packaged software implementation
  • Systems integration
  • Network infrastructure management
  • IT consulting


What about Steel?

Although India is known for its major steel industry, there have been recent conflicts on the exportation of steel. Right now, only 6%-8% of the country's steel production is exported.

Recently, there has been talk of the export of steel being banned.

The raw materials that are used to make steel will not be banned, such as iron ore, but the end-product of steel itself will be. They have, however, laid down an export duty on the iron ore.

The reason for the ban is to put a strain on the manufacturers who have imported and established steel mills in India that they use to convert raw steel into exportable product.


References:

1. Economic Markets and Structures - India's major exports - TVM


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