Importing from India

India Import Guide | Trade Finance Global

Importing from India

India is one of the fastest growing economies in the world with growth rates reaching 9% in recent years. India is being targeted by investors for major growth in a number of areas including life sciences, infrastructure, energy and manufacturing. It is predicted to be the world’s third largest economy and largest middle class consumer market by 2030. Exports from India have grown at a rapid rate, climbing from $179 billion in 2010 to $310 billion a year. Over the same period the export to GDP ratio increased from 13.3% to 15.6%, demonstrating the importance of exports to the growing economy. The foreign trade policy of the national government is looking to build on this success, aiming to increase exports to $900 billion by 2020.

India Country Profile

Official Name (Local Language) Bharatiya Ganarajya
Capital New Delhi
Population 1,266,883,598
Currency Indian Rupee
GDP $2,251 billion
Languages English, Hindi
Telephone Dial In 91

India Exports Profile

Exports ($m USD)

294,364

Number of Export Products

4,418

Number of Export Partners

219

Top 5 export partners

Country

Trade

% Partner Share

United States

46,018

15.63

United Arab Emirates

28,636

9.73

Hong Kong, China

15,021

5.10

China

12,495

4.24

Singapore

11,560

3.93

Top 5 Export Products at HS 6 digit level

Export Product

Number

Petroleum oils, etc, (excl. crude); preparation

11.8%

Diamonds non-industrial nes excluding mounted o

8.4%

Other medicaments of mixed or unmixed products,

4.3%

Art. of jewellery and pts thereof of/o prec mtl

3.9%

Semi-milled or wholly milled rice

2.4%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for India

Agriculture

%

Product List

16.5%

Rice, wheat, oilseed, cotton, jute, tea, sugarcane, lentils, onions, potatoes; dairy products, sheep, goats, poultry; fish

Industry

%

Industry List

29.8%

Textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, pharmaceuticals

Services

%

Services List

45.4%

Importing from India: What is trade finance?

Stock finance is a revolving facility which alternative lenders offer – it enables organisations to buy stock and can help ease the pressure from cash management. Typically, an alternative financier will fund most of the cost of the stock, including charges (e.g. insurance costs). Trade finance offers advantages over more traditional bank funding for example invoice finance or business loans. Trade finance provides quick funding without affecting existing relationships with banks.

How does it work?

If you’re a company importing or exporting inventory outside of your own country, then a trade finance facility would allow you to fund this through offering a LC (letter of credit) or some form of cash advance.

I’m looking to import from India, how can Trade Finance Global help, and how does it work?

If you’re looking to import from India, contact our local experts in trade finance to see how we can help you grow your business in other markets. If you are looking to import stock from other countries, you may need import finance, which is an agreement between yourself (the importer) and the foreign exporter. A non-bank lender will act as the intermediary, paying the foreign exporter on your behalf until you receive the goods and have then sold them to your customer. Repaying the financier then occurs over an agreed period. Read the TFG Importers Guide here.

India Quick Links

Information

India_Map

Importing from India? Contact our local experts

India_Flag

India Economic Statistics

Government Website

https://www.india.gov.in/

Sovereign Ratings

https://countryeconomy. com/ratings/india

Central Bank

Reserve Bank of India

Currency USD Exchange Rate

68.3

Unemployment Rate

2.7%

Population below poverty line

NA

Inflation Rate

1.9%

Prime Lending Rate

5.4%

GDP

$2,251 billion

GDP Pro Capita (PPP)

$6,700

Currency Name

Indian Rupee

Currency Code

INR

World Bank Classification

Lower Middle Income

Competitive Industrial Performance

39/138

Corruption Perceptions Index

81/180

Ease of Doing Business

77/190

Enabling Trade Index

102/136

Currency in India

About the Author

Natasha Roston is Head of People and Growth at Trade Finance Global (TFG). 

She builds partnerships to create innovative trade finance education projects and experiences. A key advocate for TFG’s annual Women In Trade campaigns, Natasha wrote a piece on the impact of gender stereotypes for gender equality in the workplace in 2022. Natasha is also responsible for TFG careers, culture, and team growth. A Level 2 Qualified Coach and Mental Health First Aid Champion, she leads internal training, supporting the holistic wellbeing of the team.

Before joining TFG Natasha worked in education for over a decade. Initially as a classroom teacher, and then in academic and pastoral leadership roles. Following this, she worked in EdTech as a Learning Design Coach for Aula’s Higher Education platform.

Natasha holds an MA from Tel Aviv University, a History PGCE from The Institute of Education and a BA from the University of Nottingham. Currently, she is studying for her Level 3 Certificate in International Trade from the Institute of Export & International Trade. In addition to her work at TFG, Natasha volunteers for the Young Women’s Trust as a Work It Out – CV Volunteer. 

 

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