India is one the largest importers of the world and a leader In international trade. Indian exports and imports accounts for a substantial amount of total global imports and exports. With trade relation with a lot of countries all over the world India exports thousands of goods to and imports thousands of goods from the international markets. India is one the fastest growing economies of the world and its role is significant in the global trade as it make huge imports to sustain its infrastructure and a growing economy and also exports a lots of goods worldwide and is a leading exporter of computer software and IT and BPO services and its contribution in international trade has increased greatly over the years.
The major trade partners of India are china, the United States of America, UAE, Qatar, japan and south Asian countries. The main Indian imports consist of machinery and equipment, electronics, medical equipment, organic chemical, precious metals, fertiliser, plastic and plastic products. The goods most exported from India are gems and precious stones, textile and garments, pharmaceuticals cereals, bio chemicals and iron ore and other minerals. Along with this a huge amount of other goods are imported and exported from India and figures show a positive growth in the international trade of India.
Indian exports and imports are an important part of international trade. India is the fastest growing economy of the world and is the third largest economy according to purchasing power parity which makes it evident that India has very fertile market and has huge prospects for imports with a developing infrastructure and a huge population with variable demand. Also with the increase in production and economic shift Indian has also become a major exporter with exports ranging from traditional goods to heavy machinery and computer software. With Indian imports and exports showing a positive trend India has huge potential in the international market with a substantial contribution in global exports and imports.
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