If any commodity is brought into one country from another country in a legal way then the condition is called Import. Import policy of India is influenced by the factors like economic needs of the country and effective use of foreign currency. The policy aims:
- To make the goods easily available.
- To simplify importing license.
- To promote efficient import substitution.
Imports are likely to be boost up with the increase in per capita income. As the middle class of India becomes more affluent and wealthy, domestic consumption will continue to increase over the years. This will further increase imports.
India imports the following: 1. Civilian aircraft
2. Diamonds
3. Chemical fertilizers
4. Telecommunications equipment
5. Organic chemicals
6. Other petroleum products
7. Computer accessories
8. Jewelry
9. Medical equipment
10. Industrial machines
11. Military vehicles
12. Military clothing & footwear
13. Beverages and tobacco
14. Collectibles (e.g. artwork, antiques, stamps)
15. Engines for military aircraft
Due to safety concerns of small children and worries about the fate of domestic toy producers in India, it was decided to ban toy imports from China in February 2009.
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