Watch to the end for full detailed information on sources of India's top import commodity and please don't forget to subscribe to this channel for more Business informative videos, Thanks From 2020 to 2021, Indian imports were valued at 388.92 billion dollars, an 18 percent drop from 2019 to 2020, when the country imported goods and services worth 474.71 billion dollars. Widespread economic disruptions caused by Covid 19 in 2020 did not change this reality. India's dependence on Chinese goods is large because they are cheap and easily available in abundant volumes. Bilateral trade between the two Asian neighbors stood at 77.7 billion dollars in 2020. Indian imports from China eclipsed imports from the US and UAE combined. India imported 160 tonnes of gold worth 8.4 billion dollars in March 2021 a massive 471 percent jump year on year before dipping slightly in April. The import surge came after the government cut the import duty on yellow metal to 10.75 percent from 12.5 percent. India's petroleum products import bill was 12.4 billion dollars from 2020 to 2021, down from 16-17 billion dollars in the previous two financial years. India is heavily dependent on imported coal, especially coking coal for its power sector. The government is keen on reducing its coal import bill by boosting domestic production. Source: https://bigmanbusiness.com/763/indias-top-commodity-import-and-sources/ #india #indiaimports #topindiaimports "India major imports" "imports of India" "India import data" "India trade balance" "India import export data" "top imports of India"

• published: 13 Feb 2023
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