Question
Explain the trend in India’s imports.
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Answer
India is importing various goods from other countries. Following are the major imported goods of India :
- Petroleum : It has largest share in India’s import. In the year 2016-17, it has 22.6% share in India’s total import.
- Gold: After petroleum, the second most imported item is gold. In the year 2011, ) India’s import of gold was $53.9 billion and in the year 2018-19 it declined upto $32.8 billion.
- Fertilizers: The share of fertilizers in import expenditure declined from 4.1% in 1990-91 to only 1.3% in 2016-17.
- Iron and Steel: In the year 2016-17, the share of iron and steel in India’s total import was 2.1%.
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