India’s Top 10 Imports in Different fields

Based on the Purchasing Power Parity average exchange rate for 2019-20, the Indian rupee dropped by -6.3% against the US dollar since 2016 and depreciated by -0.4% from 2019 to 2020. India’s weaker local currency makes India’s imports paid for in stronger US dollars in 2020 relatively more expensive when converted starting from Indian rupees.

India Import Data India imported US$378 billion worth of goods from around the globe in 2020, up by 3.2% since 2017 but down by -27.2% from 2019 to 2020.

Given India’s population of 1.389 billion people, its total of $378 billion spent on 2020 imports translates to roughly $270 in yearly product demand from every person living in the vast South Asian country.

India’s Top 10 Imports of Machinery

In 2020, Indian importers spent the most on the following 10 subcategories of machinery including computers.

1. Computers, optical readers: US$7.3 billion (up 7.5% from 2019)

2. Turbo-jets: $2.2 billion (down -48.5%)

3. Miscellaneous machinery: $1.7 billion (down -21.3%)

4. Air or vacuum pumps: $1.6 billion (down -16%)

5. Computer parts, accessories: $1.4 billion (down -10%)

6. Taps, valves, similar appliances: $1.2 billion (down -15.2%)

7. Centrifuges, filters and purifiers: $1.1 billion (up 1%)

8. Machinery parts: $1 billion (down -22.8%)

9. Transmission shafts, gears, clutches: $956.3 million (down -20.3%)

10. Printing machinery: $918.3 million (down -34.1%)

Among these import subcategories, Indian purchases of computers including optical readers (up 7.5%) and centrifuges, filters and purifiers (up 1%) grew from 2019 to 2020.

India’s Top 10 Imports of Gems and Precious Metals

In 2020, Indian importers spent the most on the following 10 subcategories of gems and precious metals.

1. Gold (unwrought): US$21.9 billion (down -29.7% from 2019)

2. Diamonds (unmounted/unset): $15.9 billion (down -27.9%)

3. Silver (unwrought): $1.2 billion (down -59.3%)

4. Synthetic precious stones: $543.8 million (up 13.2%)

5. Platinum (unwrought): $520.2 million (up 85.3%)

6. Precious/semi-precious stones (unstrung): $493.3 million (down -59.9%)

7. Jewelry: $345.4 million (down -43.6%)

8. Precious metal waste, scrap: $66.6 million (up 598.6%)

9. Precious stone dust, powder: $23.9 million (down -8.5%)

10. Imitation jewelry: $19.9 million (down -50.8%)

India Custom Data shows Indian purchases of precious metal waste and scrap(up 598.6%), unwrought platinum (up 85.3%) and synthetic precious stones (up 13.2%) grew from 2019 to 2020.

India’s Top 10 Imports of Consumer Electronics

In 2020, Indian importers spent the most on the following 10 subcategories of electric items including consumer electronics.

1. Phone system devices including smartphones: US$12.7 billion (down -6% from 2019)

2.I ntegrated circuits/micro assemblies: $8.4 billion (down -17.2%)

3. Solar power diodes/semi-conductors: $2.2 billion (down -32.2%)

4. TV receiver/transmit/digital cameras: $1.9 billion (down -10.7%)

5. Electrical converters/power units: $1.9 billion (down -14.1%)

6. TV/radio/radar device parts: $1.8 billion (up 20.4%)

7. Lower-voltage switches, fuses: $1.4 billion (down -8.3%)

8. Electric storage batteries: $1.4 billion (down -18.2%)

9. TV receivers/monitors/projectors: $1 billion (down -48.8%)

10. Microphones/headphones/amps: $927.4 million (down -14.2%)

Among these import subcategories, only India’s purchases of TV radio and radar device parts increased from 2019 to 2020 via a 20.4% gain.

India’s Top 10 Imports of Mineral Fuels

In 2020, Indian importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Crude oil: US$64.6 billion (down -36.7% from 2019)

2. Coal, solid fuels made from coal: $15.9 billion (down -29.8%)

3. Petroleum gases: $15.2 billion (down -11.6%)

4. Processed petroleum oils: $5.9 billion (down -12%)

5. Petroleum oil residues: $1.6 billion (down -34.4%)

6. Coke, semi-coke: $625 million (down -40.5%)

7. Coal tar oils (high temperature distillation): $382.8 million (down -17.3%)

8. Petroleum jelly, mineral waxes: $101.4 million (down -12.2%)

9. Tar pitch, coke: $14.2 million (down -62.5%)

10. Natural bitumen, asphalt, shale: $2.6 million (up 6.1%)

India Trade Data shows Indian purchases of natural bitumen, asphalt and shale was the sole product category to increase via a 6.1% gain from 2019 to 2020.

India’s Top 10 Imports of Overall Imports of India

The following product groups represent the highest dollar value in India’s import purchases during 2020. Also shown is the percentage share each product category represents in terms of overall imports into India.

1. Mineral fuels including oil: US$104.4 billion (28.4% of total imports)

2. Electrical machinery, equipment: $42.9 billion (11.7%)

3. Gems, precious metals: $41 billion (11.2%)

4. Machinery including computers: $35.2 billion (9.6%)

5. Organic chemicals: $18.2 billion (4.9%)

6. Plastics, plastic articles: $12 billion (3.3%)

7. Animal/vegetable fats, oils, waxes: $10.6 billion (2.9%)

8. Optical, technical, medical apparatus: $8.2 billion (2.2%)

9. Iron, steel: $7.6 billion (2.1%)

10. Fertilizers: $7.2 billion (2%)

India’s top 10 imports accounted for almost four-fifths (78.1%) of the overall value of its product purchases from other countries.

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