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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:
Civilian aircraft
Diamonds
Chemical fertilizers
Telecommunications equipment
Organic chemicals
Other petroleum products
Computer accessories
Jewelry
Medical equipment
Industrial machines
Military vehicles
Military clothing & footwear
Beverages and tobacco
Collectibles (e.g. artwork, antiques, stamps)
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.
