Foreign Trade In India

Foreign trade is important to the economy because of the country's need to import a variety of products. India exports a huge number of products and imports equally a good number of required products.

Export

Exports are the major focus of India's trade policy. Many items are freely exported from India. Exports during June, 2005 are value at US $ 7110.96 million which is 19.04% higher than the level of US $ 5973.68 million during June, 2004.

Import

The economic needs of the country, effective use of foreign exchange and industrial as well as consumer requirements are the basic factors which influence India's import policy. The main objective of import policy is to make necessary imported goods more easily available and promote foreign trade.

Imports during April-June,2005-2006 are valued at US $ 32360.13 million representing an increase of 38.02% over the level of imports valued at US $ 23445.70 imillion in April-June, 2004-2005.