by The term “import” refers to the act of bringing goods or services into a country from another country for consumption or use. Specifically, an import is a product or service that is produced in one country and then purchased or transferred by another country for domestic use or consumption.
Imports are an important part of international trade and can help to meet domestic demand for goods and services that may not be available or may be more expensive to produce locally. Some examples of imports include electronics, machinery, petroleum products, and raw materials for manufacturing.
Imports can also help to facilitate economic growth and development by providing access to new technologies and creating new job opportunities in certain sectors. However, imports can also have negative effects on domestic industries, particularly if they are unable to compete with cheaper imports from other countries. This can lead to job losses and economic stagnation in certain sectors.
Governments may regulate imports through various policies, such as tariffs, import quotas, and trade agreements, in order to protect domestic industries or promote strategic economic interests. However, these policies can also have unintended consequences and may lead to trade disputes between countries.
Table showing the major items of imports in India and their history over the last few years:
| Year | Major items of imports |
| 2021 | Crude oil, gold, electronics, machinery, pearls and precious stones |
| 2020 | Crude oil, gold, electronics, machinery, pearls and precious stones |
| 2019 | Crude oil, gold, electronics, machinery, pearls and precious stones |
| 2018 | Crude oil, gold, electronics, machinery, pearls and precious stones |
| 2017 | Crude oil, gold, electronics, machinery, pearls and precious stones |
| 2016 | Crude oil, gold, electronics, machinery, pearls and precious stones |
| 2015 | Crude oil, gold, electronics, machinery, pearls and precious stones |
| 2014 | Crude oil, gold, electronics, machinery, pearls and precious stones |
| 2013 | Crude oil, gold, electronics, machinery, pearls and precious stones |
| 2012 | Crude oil, gold, electronics, machinery, pearls and precious stones |
Note: The data above is sourced from the Ministry of Commerce and Industry, Government of India. The list of major items of imports may vary depending on the source and the year.
Factors that are shaping the direction of imports and future prospects in India:
- Energy Imports: India is heavily dependent on imports for meeting its energy needs, particularly for crude oil and natural gas. While efforts are being made to promote renewable energy sources, fossil fuels are expected to remain an important part of India’s energy mix for the foreseeable future.
- Electronics and IT Imports: With a rapidly growing digital economy, India is also importing a significant amount of electronics and IT products, including smartphones, laptops, and computer components. The government is promoting domestic manufacturing of these products through initiatives such as the “Make in India” campaign.
- Healthcare Imports: The COVID-19 pandemic has highlighted the importance of healthcare imports, including pharmaceuticals, medical equipment, and personal protective equipment (PPE). India is currently importing large quantities of COVID-19 vaccines to meet the demand for its vaccination drive.
- Agricultural Imports: India is also a major importer of agricultural products, particularly edible oils, pulses, and spices. The government is taking steps to increase domestic production of these items, but imports are likely to remain an important source of these products in the near future.
- Trade Agreements: India has been negotiating trade agreements with various countries and regions to increase market access for its exports and imports. For example, the recently signed Regional Comprehensive Economic Partnership (RCEP) agreement is expected to boost India’s imports from East Asia.
