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Exports by India

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Exports by India

The transferring of goods from one country to another country in a legal way for the purpose of trade is known as Export. India was exporting spices to many parts of the world since early days.

India was an exporter of textiles 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, East India Company controlled foreign trade and thus the Indian exports declined.

In Feburary 2009, India's exports were USD 11.91 billion. The country's exports have grown at a steady pace over the years, after foreign direct investment (FDI) was allowed on a large scale, and privatization of the state-run industries. Most of these changes were the result of economic reforms that India implemented in 1991.

The Indian exports between 2003 and 2008 are shown in the table below:


Year

Exports

Rank

% Change

Date

2003

$44,500,000,000

32

 

2001

2004

$57,240,000,000

31

28.63 %

2003 est.

2005

$69,180,000,000

33

20.86 %

2004 est.

2006

$76,230,000,000

33

10.19 %

2005 est.

2007

$112,000,000,000

29

46.92 %

2006 est.

2008

$140,800,000,000

26

25.71 %

2007 est.



The main products exported by India include:

  1. Cotton household furnishings & clothing
  2. Diamonds
  3. Jewelery (e.g. watches, rings)
  4. Medicinal, dental and pharmaceutical preparations
  5. Semi-finished iron & steel products
  6. Non-cotton household furnishings & clothing
  7. Textile floor coverings (e.g. rugs)
  8. Industrial machinery
  9. Industrial organic chemicals
  10. Generators, transformers & accessories
  11. Zinc
  12. Sugar
  13. Steel making materials
  14. Precious metals
  15. Rubber
In addition to these goods and products, much of India's GDP is contributed to by the business process outsourcing (BPO) industry, call centres, and other service-based jobs from the US, Europe, and some of Asia.

Sub section (d) of section 111 and sub section (d) of section 113 says any good exported or attempted to be exported is liable to be confiscated, if it is found that prohibition is imposed by the government or under the customs act or any other law.

The Indian goods need to be of superior quality to improve the export status. The packaging and branding should also be such that it attracts the countries to which India is exporting.

At the same time India must consistently be looking for potential market to sell their goods. The government should frame policies which gives boost to the exports.
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