Political and trading relationships - India's imports and exports
India has successfully created relationships with other countries. The value of the country’s exports is increasing over time. However, India has a negative balance of trade, which means that it spends more on its imports than it receives for its exports.
India's imports
India imports Basic material that goods are made from such as crops, metals, wood and animal products such as wool and leather. and products from many countries. The highest value of imports come from China, the United Arab Emirates (UAE), Saudi Arabia and the United States of America (USA).
India’s biggest imports are Mixture of hydrocarbons, mainly alkanes, formed over millions of years from the remains of ancient dead marine organisms., precious and semi-precious stones, electrical Mechanically operated equipment, eg a tractor. and equipment. Oil and machinery are used to run factories. Gold, silver and electronic goods are luxury items, which shows that the country is becoming wealthier.
India's exports
India exports products to lots of different countries. The highest value of exports go to the USA, UAE, China and Bangladesh. The UK is the seventh biggest importer of Indian products.
India's biggest exports are Fuels such as diesel and oil., jewellery, Relating to medicines and drugs, and their production, sale and use. products and rice. Many of these are high value products. It is beneficial for India to import cheaper raw materials and export more expensive finished products.