India
Asia & Middle East
Trade in India
India was the world’s 18th largest exporter of goods and 7th largest exporter of commercial services in 2022. Export values were $453.42 billion and $309.37 billion USD respectively. India’s top export category was Manufactures, followed by Fuels and mining products, and Machinery and transport equipment. In 2022, India’s main export destination markets for goods and services trade were to United States, China and United Arab Emirates, with trade representing 49.23 per cent of GDP. In terms of imports, India is the world’s 7th largest importer of goods and 9th largest importer of commercial services. Import values were $720.44 billion and $249.52 billion USD respectively in 2022. India’s top import category was Manufactures, followed by Fuels and mining products and Machinery and transport equipment. Leading import partners were China, United States and United Arab Emirates. India is part of 19 different Regional Trade Agreements, including ASEAN – India and Asia Pacific Trade Agreement (APTA). |
General InformationThis section includes general information on the economy, legal system, official languages and links to additional demographic information. |
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Official Name |
Republic of India |
Abbreviation |
IN |
Capital |
New Delhi |
WTO Membership Date |
1 January 1995 |
Legal System |
common law system based on the English model; separate personal law codes apply to Muslims, Christians, and Hindus; judicial review of legislative acts |
Language |
Hindi, English |
Number of Time Zone(s) |
1 |
Additional Information | |
Financial InformationThis section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance. |
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Currency |
Indian rupee |
Exchange Rate |
Google Finance Currencies |
GTFP Confirming Banks Through the IFC's Global Trade Finance Program (GTFP) bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. This extends and complements the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in challenging markets where trade lines may be limited. |
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Contact InformationThis section includes contact information for business support organizations and national resources. |
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Business Support Organizations |
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Government MSME Agency |
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Copyright Offices |
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Industrial Property Offices |
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SPS Enquiry Points Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements. |
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TBT Enquiry Points Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements. |
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Additional Information |
ePing alert |
Links to other helpful resourcesThis section includes additional links to trade-related resources. |
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National Tariff Finder |
https://www.cbic.gov.in/htdocs-cbec/customs/custom-tariff |
Trade Information Portal |
https://www.indiantradeportal.in/ |
Last Reviewed: June, 2024
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