What are the major 5 imports from India?

Only a small portion of the Indian population understands that India, the world's largest democracy and one of the fastest growing economies, is capable of manufacturing the majority of the products we purchase from other countries. To contribute to the country's economic success, Indians should be aware that local products that are similar to imported ones exist, and even if they do not, we have the resources to manufacture them in India.

Imports data India

Here is a list of the top seven imported products in India:

1. Oil

Import cost: 177.5 billion USD

India, like most other countries, obtains its crude oil from the Middle East, particularly Saudi Arabia and Iraq. Over the last decade, India's oil imports have increased from around 65 million tonnes to nearly 180 million tonnes in the last decade! India is one of the world's most dependent on oil imports.

2. Valuable stones

60 billion dollars in import costs

India is a one-of-a-kind country. Why? Because precious stones, particularly gold, rank second on both lists of India's top imports and exports. Despite a recent decrease in import rates of 9%, India spends more than $60 billion on jewels.

3. Electronic devices

The cost of imports is 32 billion USD.

China accounts for half of India's total electrical equipment imports. This isn't breaking news to us. Almost every other electrical gadget is sold in India, no matter how large or small.

Almost every other electronic product sold in India, no matter how big or small, is labelled "Made in China." However, the government has made significant progress in this sector, and the import rate is decreasing. But there is still a long way to go!

4. Heavy equipment

31 billion dollars in import costs

Industrial machinery, engines, and pumps are primarily imported from Japan and China. To achieve PM Modi's aim of rapid industrial expansion in India, the country must be self-sufficient in heavy machinery.

5. Organic compounds 

18 billion USD in import costs

Ancient India was well-known for its advances in organic chemistry and herbal science. However, the country currently relies on imported bio-chemicals. 

This raises the cost of agricultural expenditure, affecting the price of vital food goods.

6. Plastics

11.8 billion USD in import costs

How frequently do we see a billboard or a sign that says, "Say No To Plastic Items"? Isn't it frequently? However, plastic is the country's sixth most imported item. While not every plastic item is unnecessary, the usage of those that can be avoided should be! This will not only help the environment, but it will also help the country's economy.

7. Vegetable and animal oil

10 billion USD in import costs

When it comes to imports, India is a big fan of oil in all its forms. India's #1 priority is oil, whether crude or edible. In recent years, the amount of edible oil we import from other regions of the world has climbed by over 25%.

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