Make in India failing, India’s Import rise 14% in Q1 of 2017-18

top 10 commodities exported by india

India’s import bill in first quarter of 2017 has been Rs. 72,658,2.32 crores. In financial year 2016-17 India imported goods worth Rs. 257,742,1.65crores. At this pace India’s import bill set to increase by 14 % YoY. Interestingly, If import bill is increasing more than GDP of nation, make in India (Dream project of Prime Minister Narender Modi) program bound to fail.

India's Import in Q1 of 2017
India’s Import in Q1 of 2017

 

Top 50 Commodities imported by India in first quarter of 2017 vs FY 2016-17.

Also Read, Export import with China in First quarter of 2017-18

All figures are in Rs. Lacs

S.No. Commodity 2016-2017 2017-2018(Apr-Jun)
1 MINERAL FUELS, MINERAL OILS AND PRODUCTS OF THEIR DISTILLATION; BITUMINOUS SUBSTANCES; MINERAL WAXES. 69,127,976.88 18,314,753.98
2 NATURAL OR CULTURED PEARLS,PRECIOUS OR SEMIPRECIOUS STONES,PRE.METALS,CLAD WITH PRE.METAL AND ARTCLS THEREOF;IMIT.JEWLRY;COIN. 36,026,228.83 14,841,229.79
3 ELECTRICAL MACHINERY AND EQUIPMENT AND PARTS THEREOF; SOUND RECORDERS AND REPRODUCERS, TELEVISION IMAGE AND SOUND RECORDERS AND REPRODUCERS,AND PARTS. 25,869,628.81 7,636,446.57
4 NUCLEAR REACTORS, BOILERS, MACHINERY AND MECHANICAL APPLIANCES; PARTS THEREOF. 21,531,458.78 5,539,626.84
5 ORGANIC CHEMICALS 10,379,791.07 2,967,073.16
6 PLASTIC AND ARTICLES THEREOF. 7,757,755.71 2,275,578.01
7 ANIMAL OR VEGETABLE FATS AND OILS AND THEIR CLEAVAGE PRODUCTS; PRE. EDIBLE FATS; ANIMAL OR VEGETABLE WAXEX. 7,340,691.66 2,027,774.13
8 IRON AND STEEL 5,527,757.41 1,490,579.89
9 OPTICAL, PHOTOGRAPHIC CINEMATOGRAPHIC MEASURING, CHECKING PRECISION, MEDICAL OR SURGICAL INST. AND APPARATUS PARTS AND ACCESSORIES THEREOF; 4,962,411.79 1,362,726.74
10 MISCELLANEOUS CHEMICAL PRODUCTS. 3,056,692.52 923,908.53
11 INORGANIC CHEMICALS; ORGANIC OR INORGANIC COMPOUNDS OF PRECIOUS METALS, OF RARE-EARTH METALS, OR RADI. ELEM. OR OF ISOTOPES. 3,172,445.48 906,425.08
12 VEHICLES OTHER THAN RAILWAY OR TRAMWAY ROLLING STOCK, AND PARTS AND ACCESSORIES THEREOF. 3,165,315.08 830,981.53
13 AIRCRAFT, SPACECRAFT, AND PARTS THEREOF. 5,644,531.08 788,628.96
14 ORES, SLAG AND ASH. 2,869,389.32 777,539.04
15 FERTILISERS. 2,875,418.65 759,608.71
16 COPPER AND ARTICLES THEREOF. 2,270,885.29 716,734.91
17 ALUMINIUM AND ARTICLES THEREOF. 2,332,594.62 670,543.89
18 EDIBLE VEGETABLES AND CERTAIN ROOTS AND TUBERS. 2,881,312.01 607,652.71
19 EDIBLE FRUIT AND NUTS; PEEL OR CITRUS FRUIT OR MELONS. 2,035,952.74 576,263.74
20 ARTICLES OF IRON OR STEEL 2,326,062.46 568,837.72
21 RUBBER AND ARTICLES THEREOF. 1,950,048.70 557,048.79
22 SHIPS, BOATS AND FLOATING STRUCTURES. 3,805,801.59 516,877.68
23 PAPER AND PAPERBOARD; ARTICLES OF PAPER PULP, OF PAPER OR OF PAPERBOARD. 1,816,294.41 493,660.13
24 SALT; SULPHUR; EARTHS AND STONE; PLASTERING MATERIALS, LIME AND CEMENT. 1,458,881.40 396,885.89
25 WOOD AND ARTICLES OF WOOD; WOOD CHARCOAL. 1,340,332.76 374,934.34
26 TANNING OR DYEING EXTRACTS; TANNINS AND THEIR DERI. DYES, PIGMENTS AND OTHER COLOURING MATTER; PAINTS AND VER; PUTTY AND OTHER MASTICS; INKS. 1,118,582.47 326,979.72
27 PULP OF WOOD OR OF OTHER FIBROUS CELLULOSIC MATERIAL; WASTE AND SCRAP OF PAPER OR PAPERBOARD. 1,108,761.96 325,120.55
28 PROJECT GOODS; SOME SPECIAL USES. 1,401,404.14 311,108.70
29 FURNITURE; BEDDING, MATTRESSES, MATTRESS SUPPORTS, CUSHIONS AND SIMILAR STUFFED FURNISHING; LAMPS AND LIGHTING FITTINGS NOT ELSEWHERE SPECIFIED OR INC 984,035.38 297,583.15
30 PHARMACEUTICAL PRODUCTS 1,151,503.19 270,989.29
31 COTTON. 758,164.50 249,981.79
32 GLASS AND GLASSWARE. 673,937.07 194,032.27
33 TOOLS IMPLEMENTS, CUTLERY, SPOONS AND FORKS, OF BASE METAL; PARTS THEREOF OF BASE METAL. 554,477.32 167,340.01
34 SUGARS AND SUGAR CONFECTIONERY. 741,867.45 164,585.06
35 IMPREGNATED, COATED, COVERED OR LAMINATED TEXTILE FABRICS; TEXTILE ARTICLES OF A KIND SUITABLE FOR INDUSTRIAL USE. 454,514.16 149,880.18
36 COFFEE, TEA, MATE AND SPICES. 508,214.22 141,317.56
37 MAN-MADE FILAMENTS. 485,562.68 136,755.84
38 MISCELLANEOUS ARTICLES OF BASE METAL. 488,372.44 136,002.47
39 ESSENTIAL OILS AND RESINOIDS; PERFUMERY, COSMETIC OR TOILET PREPARATIONS. 457,677.00 129,689.11
40 SOAP, ORGANIC SURFACE-ACTIVE AGENTS, WASHING PREPARATIONS, LUBRICATING PREPARATIONS, ARTIFICIAL WAXES, PREPARED WAXES, POLISHING OR SCOURING PREP. 439,712.22 127,658.53
41 BEVERAGES, SPIRITS AND VINEGAR. 452,051.67 125,079.47
42 ARTICLES OF STONE, PLASTER, CEMENT, ASBESTOS, MICA OR SIMILAR MATERIALS. 496,502.16 121,524.20
43 ZINC AND ARTICLES THEREOF. 470,565.45 121,021.86
44 LEAD AND ARTICLES THEREOF. 400,656.01 116,197.45
45 MAN-MADE STAPLE FIBRES. 382,649.13 113,364.25
46 RAW HIDES AND SKINS (OTHER THAN FURSKINS) AND LEATHER 409,007.90 112,141.55
47 TOYS, GAMES AND SPORTS REQUISITES; PARTS AND ACCESSORIES THEREOF. 336,346.62 111,897.39
48 KNITTED OR CROCHETED FABRICS. 320,173.75 104,259.05
49 FOOTWEAR, GAITERS AND THE LIKE; PARTS OF SUCH ARTICLES. 359,297.91 100,128.73
50 RESIDUES AND WASTE FROM THE FOOD INDUSTRIES; PREPARED ANIMAL FODER. 331,660.16 99,688.96
India’s Total Import 257,742,165.86 72,658,232.51

It should be noted that increase in Import bill is mainly due to Pearls and precious stones. In FY 2016-17 it contributed 13.98 % of total import bill while in first quarter of 2017-18 it is 20.43%. However good thing is that, all precious stones are not utilized in India, but exported post finishing is done.

Top 50 countries India Imported from in first quarter of 2017-18

All The figures are in Rs. lacs

SNo. Country 2016-2017 % Share 2017-2018 (Apr-Jun) % Share
1 CHINA P RP 41,112,449.7 15.95 11,656,210.7 16.04
2 SWITZERLAND 11,561,928.8 4.49 4,101,928.4 5.65
3 U ARAB EMTS 14,415,876.3 5.59 4,049,806.0 5.57
4 U S A 14,989,794.2 5.82 3,839,368.6 5.28
5 SAUDI ARAB 13,376,327.3 5.19 3,126,956.3 4.30
6 INDONESIA 9,014,424.6 3.50 2,641,064.1 3.63
7 KOREA RP 8,445,261.4 3.28 2,509,878.4 3.45
8 HONG KONG 5,491,258.4 2.13 2,436,597.4 3.35
9 IRAQ 7,847,561.1 3.04 2,386,202.2 3.28
10 AUSTRALIA 7,486,443.5 2.90 2,021,797.4 2.78
11 GERMANY 7,770,424.1 3.01 1,995,082.0 2.75
12 JAPAN 6,542,497.2 2.54 1,664,333.4 2.29
13 IRAN 7,047,761.3 2.73 1,607,692.0 2.21
14 NIGERIA 5,137,453.4 1.99 1,599,038.3 2.20
15 RUSSIA 3,718,033.7 1.44 1,498,642.6 2.06
16 UNSPECIFIED 4,914,888.7 1.91 1,483,278.1 2.04
17 MALAYSIA 5,989,034.5 2.32 1,416,708.8 1.95
18 QATAR 5,122,226.0 1.99 1,239,086.7 1.71
19 BELGIUM 4,439,563.9 1.72 1,213,313.5 1.67
20 SINGAPORE 4,754,088.6 1.84 1,196,211.7 1.65
21 SOUTH AFRICA 3,897,915.0 1.51 1,079,948.5 1.49
22 THAILAND 3,631,308.0 1.41 1,010,950.6 1.39
23 FRANCE 3,826,383.8 1.48 964,356.4 1.33
24 KUWAIT 2,986,318.3 1.16 942,431.3 1.30
25 VENEZUELA 3,696,429.1 1.43 939,375.4 1.29
26 CANADA 2,772,611.3 1.08 813,632.6 1.12
27 BRAZIL 2,765,261.7 1.07 757,864.5 1.04
28 U K 2,458,352.7 0.95 720,109.4 0.99
29 ITALY 2,613,963.5 1.01 659,555.0 0.91
30 VIETNAM SOC REP 2,226,346.5 0.86 644,257.1 0.89
31 TAIWAN 2,107,629.9 0.82 598,317.6 0.82
32 ARGENTINA 1,676,299.5 0.65 492,595.2 0.68
33 GHANA 1,301,536.2 0.51 491,136.7 0.68
34 MEXICO 1,977,591.3 0.77 476,835.4 0.66
35 ANGOLA 1,740,617.2 0.68 449,084.4 0.62
36 PERU 722,711.9 0.28 400,188.4 0.55
37 ISRAEL 1,314,732.6 0.51 391,822.4 0.54
38 UKRAINE 1,665,692.4 0.65 349,827.7 0.48
39 BOTSWANA 876,627.3 0.34 323,760.0 0.45
40 NETHERLAND 1,272,947.7 0.49 293,415.5 0.40
41 SPAIN 1,322,312.9 0.51 264,110.9 0.36
42 SWEDEN 778,815.9 0.30 244,855.8 0.34
43 OMAN 855,414.4 0.33 244,433.4 0.34
44 CHILE 822,921.0 0.32 241,583.1 0.33
45 MYANMAR 715,611.8 0.28 195,019.0 0.27
46 ALGERIA 405,542.1 0.16 191,714.8 0.26
47 TURKEY 809,661.4 0.31 191,313.9 0.26
48 MOZAMBIQUE 366,235.6 0.14 182,242.7 0.25
49 FINLAND 679,193.1 0.26 165,274.1 0.23
50 TANZANIA REP 636,994.9 0.25 163,535.3 0.23
India’s Total Import 257,742,165.9 72,658,232.5

It can bee seen that proportionally import from China, Switzerland, Indonesia, South Korea and Hong kong increased. while it decreased from countries UAE, USA, Saudi Arabia, Australia, Germany and Japan. China is on top position, and India fulfilled 16% of its import need from this country.

Region-wise India’s import analysis

All the figures are in Rs. lacs

S.No. Region 2016-2017 Share 2017-2018(Apr-Jun) Share
1 NE Asia 63,762,752.7 24.7 18,871,519.2 26.0
2 West Asia- GCC 36,951,247.4 14.3 9,666,067.9 13.3
3 ASEAN 27,246,733.3 10.6 7,397,340.9 10.2
4 EU Countries 28,413,617.7 11.0 7,284,069.6 10.0
5 North America 19,739,996.7 7.7 5,129,836.6 7.1
6 Other West Asia 16,810,791.6 6.5 4,555,100.9 6.3
7 European Free Trade Associatipn (EFTA) 11,947,307.2 4.6 4,257,394.3 5.9
8 Latin America 11,599,794.9 4.5 3,227,636.4 4.4
9 West Africa 8,736,788.6 3.4 2,793,532.9 3.8
10 East Asia (Oceania) 7,938,733.1 3.1 2,158,209.8 3.0
11 Other CIS Countries 5,838,217.3 2.3 1,919,588.4 2.6
12 Unspecified 5,018,216.8 1.9 1,522,169.3 2.1
13 Southern African Customs Union (SACU) 4,851,379.0 1.9 1,433,373.8 2.0
14 Other South African Countries 2,646,570.2 1.0 791,274.1 1.1
15 North Africa 1,964,754.2 0.8 562,018.6 0.8
16 South Asia 1,884,492.0 0.7 417,667.7 0.6
17 East Africa 885,343.9 0.3 227,919.0 0.3
18 Other European Countries 849,425.2 0.3 209,371.8 0.3
19 CARs Countries 408,505.7 0.2 183,075.8 0.3
20 Central Africa 247,498.4 0.1 51,065.9 0.1
India’s Total Import 257,742,165.9 72,658,232.5

India full fill 50% of its import need from NE Asia (26%), West East Asia (13.3%) and ASEAN (10.2%). India is working on new foreign policy ‘Act East’.

Source

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