Global Import Export Data Provider

  I ndia's diamond export market has long been a keystone of its economy, in the fiscal year 2023-24, it reached a remarkable milestone of $18.2 billion. This achievement not only reflects the country's prowess in diamond processing but also highlights its pivotal role in the jewellery industry globally. This blog will delve into the factors contributing to this success, the challenges faced, and the future outlook, it becomes clear that India's diamond market is a true gem in the global economy. The Rise of India's Diamond Industry India's journey in the diamond trade began in the 18th century, but it was in the late 20th century that the country emerged as a global leader in diamond cutting and polishing. The establishment of the diamond trading hub in Surat, Gujarat, transformed the landscape of the industry. Today, India processes over 90% of the world’s diamonds, employing millions of skilled artisans and craftsmen. The recent surge in exports can be attribute...

  Over the few years, India saw a surge in the gold and silver imports from the United Arab Emirates. The rise in precious metals imports of India was basically due to lower import duty on these items imports from UAE. India-UAE Comprehensive Economic Partnership Agreement (CEPA) which was established in 2022 allows a duty concession of 1% and 7% on gold and silver shipments from the UAE. Whereas, while importing gold from other countries, India has to pay 15% duty. On the other hand, gold imports from the UAE are taxed at 14%. Whereas silver imports are taxed at 15% for other countries and for UAE its 8% only. That is why due to lower import duties, India's gold and silver imports saw significant rise over the past few years. According to the India import export data , the imports of gold and silver from the UAE went up by 210%. This year, it is estimated to be around $10.7 billion. Whereas, India's imports of all other products from the United Arab Emirates was recorded to be...

  Over the past few years, the Netherlands has emerged as an important trading partner of India. The bilateral trade between the two countries soared in the last two years. Netherlands is India’s 11th largest trading partner and biggest importer across the European continent. According to India customs data , the total trade between the two countries stood at around $27 billion during the last fiscal year with a positive trade balance of 17 billion dollars. The Netherlands import data shows that over $22 billion worth of items were imported from India during the last fiscal year. According to India export data , there was a 6% rise in the exports to the Netherlands during FY 2023. The Netherlands was the third biggest destination for India’s exports. Earlier in  2021, the Netherlands was the fifth major importer of Indian goods. Aluminium and its articles were the most imported item by the Netherlands from India. Iron, Steel, Crude Petroleum, Woven fabrics, Cermet metals arti...

  Over the years, Latin American countries have become crucial trade partners to India. It's quite surprising for you to know that India exports more to Latin American countries than neighbouring Asian nations. Some of the important trading partners from Latin American countries are Mexico, Brazil, Argentina, Chile and Peru. According to India import export data , Latin American markets were responsible for over $19 Billion dollars worth of Indian exports during the financial year 2023. Brazil was the leading destination for India's exports having imports worth $6 billion in the last fiscal year. India's key exports to Brazil include wires, cables, petroleum oils, glassware, iron and steel, its articles, etc. ISA CTEEP, Kingspan Isoeste and Inox Tech Comércio are the leading Brazil import companies to India. Mexico was the second leading market for Indian exports. Mexico import data shows that around $5.3 billion imports from India recorded in the last fiscal year. India...

  India is the world’s 4th leading textile exporting country in the world. Although, India’s textiles exports declined by 4.4% last year. According to India import export data , the country’s overall textile exports were estimated to be around $32 billion for the fiscal year 2023-2024. These were mainly knitted, not knitted garments, cotton, silk, carpets, worn  clothes, etc.  The United States was the biggest market for Indian garments showing high demand in 2023. The USA accounted for 25% of India's overall textiles exports. India export data shows formidable growth in textiles exports to Bangladesh (8%), United Arab Emirates (5%), United Kingdom (4.6%) and Germany (4.5%).  Rupa & Company, Spica Group, Swasthik Clothings, Eastman Exports and Metro Atheisure were the top textiles export companies from India with record shipments last year. Commodity wise, India's silk exports showed high demand across European and the US market. India customs data shows growth...

  India is the prominent market for metals exports. India is the 6th biggest exporter of precious metals and 9th leading exporter of metals globally. Iron and Steel are the major metal exports of India. Other crucial metals exports from India are aluminium, copper, zinc, lead, nickel and tin respectively. India export data shows the country's overall metals exports to be over $45 billion during last fiscal year. The United States was the biggest importer of metals from India and contributed to 15% of the country's overall metal exports. Among the fastest growing markets for India's metals exports were Italy, United Arab Emirates, South Korea, Turkey, China and the Netherlands.   Iron and steel were the most exported base metals from India. According to India import export data , the country's iron and steel exports were estimated to be around $13.4 billion during fiscal year 2023. Whereas, India's iron and steel articles exports recorded to be $9.8 billion last yea...

  Marine agriculture is a very important activity in the global market. A major portion of the country's population is engaged in this sector. India stands second on the list of top shrimps exporters globally. According to India import export data , India's shrimps exports hit a record $240 million during March 2024. The United States was the leading shrimp importer from India during March responsible for 39% market share. China was the second leading shrimp importer with 17% market share. Whereas, Vietnam, Japan, Belgium, United Kingdom and Canada were other major shrimps importers from India responsible for hike in the shrimps imports from India. In February, India's shrimps exports hit a significant value of $248 million. Whereas, during January, the exports of shrimps were over $280 million. This year, India's shrimps exports were on the rise.  In February, India's shrimps exports hit a significant value of $248 million. Whereas, during January, the exports of s...

  Petroleum products are the most traded items of India. India stands 3rd on the list of world's leading petroleum exporters whereas 12th biggest exporter globally. India's petroleum products exports have risen significantly during fiscal year 2023. According to India import export data reports, the country's mineral oil exports were recorded to be $90 billion last year.  In 2023, Bhutan, Nepal, United Arab Emirates, Netherlands, United States, Singapore, Togo, and Brazil were the prominent markets for mineral fuels export markets to India. India export data suggests the Netherlands was the top mineral fuel importer from India with imports worth over $9.5 billion in 2023.  Also, there was a notable increase in the exports to the European market. The Netherlands, United Kingdom, Romania, France and Spain have emerged as the top markets for India's mineral fuels and oils exports. Bharat Petroleum, Indian Oil Corporation, Reliance Industries and Hindustan Petroleum were...

  India is the biggest diamond exporter in the world. India is the largest market for the raw diamond, stones, jewellery sets and other diamond related products. India import export data shows that around $25 billion worth of diamond exports were recorded during fiscal year 2023. In Jan 2024, India recorded an exceptional $628 million worth of diamonds.  During fiscal year 2023, India's most of the diamond exports went to Hong Kong and the United States contributing to 80% of India's overall diamond exports. Exports share wise, other major markets for India's diamond were Belgium (9.8%), United Arab Emirates (2.7%) and Thailand (2.3%). Also, there was a significant rise in India's diamond exports to Israel, Switzerland, United Kingdom and Australia during last year. As per India export data , the biggest gems exporting companies from India during 2023 were Kiran Gems, Gia India Laboratory and Dharmanandan Diamonds. Whereas, Emby International from the United States, St...