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.
Major Destinations of Export
Export (Value US$ Million) |
| Countries |
2000-01 |
2001-02 |
2002-03 |
2003-04 |
| |
|
|
|
|
| USA |
9251.55 |
8542.34 |
10924.05 |
11490.30 |
| UAE |
2586.26 |
2500.28 |
3336.12 |
5093.42 |
| UK |
2275.73 |
2168.23 |
2502.89 |
3041.27 |
| GERMANY |
1887.42 |
1794.45 |
2112.15 |
2529.07 |
| CHINA |
830.03 |
955.19 |
1980.61 |
2967.05 |
| FRANCE |
1016.88 |
948.22 |
1076.88 |
1293.22 |
| JAPAN |
1782.20 |
1515.58 |
1868.86 |
1718.88 |
| SPAIN |
663.03 |
679.51 |
812.59 |
994.10 |
| TOTAL |
20293.10 |
19103.81 |
22501.26 |
29127.31 |
