ndia is the second-largest consumer market globally, and citing the growing purchase capability of its people, no international trader focusing on Asia Pacific Region can risk to ignore it.
However, it’s important to know the items that are in demand along with the competition involved in their marketing.
Happily Trade releases a list of popular items to import in India for international traders to help them maximize their profit. Continue reading if you are obsessed with the consumer market insights and gain a competitive edge.
1. Gems, precious metals
The penchant for the jewellery of Indian women is not a new thing to be told. Wedding seasons and festivals are not the only opportune times to invest in gems and precious metals as many would think. Likewise, jewellery also transcends gender disparity as men’s have also developed a love for it. India imports gold (HS92 ID: 7108) and diamond (HS92 ID: 7102) worth USD 57.9 billion, according to the Observatory of Economic Complexity (OEC), and after crude petroleum oil, it’s the 2nd most imported item in India.Where does India import gems and precious metals from? United States, Pakistan, Hong Kong, China, and Germany, and Sweden are the prime exporters to India.
2. Telephones
The worth of import of telephonic equipment or goods (HS92 ID: 8517) reached USD 11.3 billion in 2017. Citing the revolution in the telecommunication industry with every individual getting connected with the Internet and phone, the fact is not a surprising one.Where does India imports telephonic items from? China dominates the import portfolio with 78% market capitalization. Vietnam, Singapore, Korea, Hong Kong, and the USA cover the rest of the market.
3. Computers
India imports computers (HS92 ID:8471) worth USD 4.75 billion. Though India’s computer import constitutes 1.1% of the total import worth, citing the growing adoption of computers across consumers and businesses, you can benefit a lot.
Where does India import telephonic items from? China again has a dominant position. It controls almost 64% of the import worth, followed by Singapore, Malaysia, Hong Kong, Philippines, and other countries.
4. Integrated Circuits
India imports ICs or Integrated circuits (HS92 ID: 8542) worth USD 2.71 billion to support its consumer and industrial electronics demand. ICs are widely used in bipolar junction transistors, Logic Gate array, CMOS, PMOS, NMOS, LDMOS, MOSFET, Micro Processors, Op-amps or Operational Amplifiers, RAM chips /Memory chips, Voltage /Current regulators, etc.
Where does India import telephonic ICs or Integrated circuits from? Top export partners are China (23%), Singapore (23%), South Korea (19%), Malaysia (5.4%), Japan (3.8%), Finland (3.2%), and United States (2.6%).
5. Ferro Alloys
Ferroalloys are alloys (HS92 ID: 7202) of iron with a high proportion of one or more other elements such as manganese (Mn), aluminum (Al), or silicon (Si). Ferroalloys with high demand are FeAl (ferroaluminum), FeMg (ferromagnesium), and FeB (ferroboron). They are used in the production of steels and alloys. In 2017, India imported ferroalloys worth USD 852M.
Where does India import ferroalloys from? Asian partners are Bhutan (12%), Indonesia (12%), Malaysia (9.9%), China (5.9%), South Korea (5.0%), and Japan (5.1%) are the top export partners of India. Brazil in South America is also a major partner fulfilling 10% of the import needs.
