11 Mar 2019

India bans import of goods from China List of top 5 imports of India

India bans import of goods from China List of top 5 imports of India

 

 

  • The government of India put a ban on the import of various goods from China including some electronic items, specific mobile phones, milk and milk products and some steel products on April 25, 2016.
  • According to some online media reports, the ban came after Union Commerce Minister
  • Nirmala Sitharaman said that the import of such items from China has been harming
  • India's small and medium enterprises. Quality concerns have also been cited as one of the reasons for the ban.
  • Union Commerce Minister reportedly said that specific actions have been taken by the government on these Chinese imports to implement the ban precisely.
  • India imports around 6000 commodities from 140 countries. In 2015, India imported USD 90.7 billion worth of commodities.

 

Following is a list of top five imports of India from the world:

 

  1. Crude oil: The import of petroleum crude to the country accounts for about 34%of the total inward shipments.
  2. Gems and precious metals: The country also imports gold and silver which accounts for 12%of the total imports.
  3. Machinery: This makes around 10 % of the total imported goods in the country.
  4. Electronic equipment: The import of electronic goods including smart phones in the country grew from USD 2.85 billion in May to USD 4.38 billion in September 2015. This accounts to around 7 % of the total imports.
  5. Pearls, precious and semi-precious stones: India imports natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal and its products, which accounts for 5%of the country's total imports.