Exports $201 billion (20th; 2010)

Export goods petroleum products, precious stones, machinery, iron and

steel, chemicals, vehicles, apparel

Main export UAE 12.87%, US 12.59%, China 5.59% (2009)

partners

Imports $327 billion (11th; 2010)

Import goods crude oil, precious stones, machinery, fertilizer, iron and
steel, chemicals

Main import China 10.94%, US 7.16%, Saudi Arabia 5.36%, UAE

partners 5.18%, Australia 5.02%, Germany 4.86%, Singapore
4.02% (2009)

FDI stock $35.6 billion (2009-10)

Gross external $237.1 billion (2010 est.)

debt

Public finances

Export means the transferring of any good from one country to another country in a legal way for the
purpose of trade. Export goods are provided to the foreign consumers by the domestic producers.

Indian Exports: A History

The history of Indian exports is very old. During ancient times India exported spices to the other parts of the
world. India was also famous for its textiles which were a chief item for export in the 16th century. Textiles
and cotton were exported to the Arab countries from Gujarat. During the Mughal era India exported various
precious stones such as ivory, pearls, tortoise stones etc. But during the British era, Indian exports declined
as the East India Company took control of foreign trade.

Markets
Though India has seen some product diversification in its export basket, it has not expanded significantly in
the two big markets-Africa and Latin America.

India’s business with South Asian countries is also negligible. This region has not been integrated with the
global economy, though political and economic initiatives have been taken in the recent past in this direction.

Leading Export Items of India

In the past ten years, Indian exports have grown at a rate of nearly 22%. Some commodities have enjoyed
faster export growth than others. Some of India's main export items are cotton, textiles, jute goods, tea,
coffee, cocoa products, rice, wheat, pickles, mango pulp, juices, jams, preserved vegetables etc. India
exports its goods to some of the leading countries of the world such as UK, Belgium, USA, China, Russia
etc.

Restriction on the Exports of Items

However there are some restrictions on the export of goods. Under sub section (d) of section 111 and sub
section (d) of section 113, any good exported or attempted to be exported, contrary to any prohibition
imposed by or under the customs act or any other law is liable for confiscation.

Export Trends
If the Indian economy grows at the same pace, India would most definitely export goods worth US $500
billion by 2013 and may supersede the exports of other large developing countries like Brazil.

The Way Ahead

India needs the right mix of policy formulation sector focus and industry led initiatives to move up the value
chain in the global export basket

The Opportunity
It is very clear that Indian exports have still not achieved their true potential and there exists immense
opportunities for expanding the basket of India’s exports. With a strategic attention on the new markets that
are evolving due to free trade, India is witnessing a boom in both manufacturing and services.

Problems of the Indian Export Sector

There are few problems which need to be solved before India makes a mark for itself in the export sector.
The Indian goods have to be of superior quality. The packaging and branding should be such that countries
are interested to export from India. At the same time India must look for potential market to sell their goods.
The government should frame policies which gives boost to the exports.

Directional Change In Exports

India has seen massive directional change in the context of origin of demand for Indian products. Till 2001-
02 North America and the EU markets shared nearly 21% and 23.2 % respectively of total exports and the
remaining to the rest of the globe. By 2006-07, North America had a share of only 16% of the total exports
and the EU's share was 21.2%.

“India Is Not Simply Emerging; India Has Already

Emerged”,President Obama In New Delhi Today,
8th November 2010.

The other quote is by Barrack Obama “I watch cricket, not because I understand it, but
just to see who is the guy who …when he plays…the productivity of my country drops
50%”.