- China is the major source of India’s imports, accounting for 11.3% of India’s total imports, followed by Saudi Arabia (8.1% share), the UAE (6.5% share), and the USA (5.0% share) in 2013-14. In 2014- 15 (April-December), India’s imports from China grew by 18.7%. However, there was contraction in India’s imports from Saudi Arabia, the UAE, and USA by 14.2%, 7.9%, and 7.9%, respectively during the same period. Imports from Switzerland and Singapore also declined in 2012-13 and 2013-14 but picked up with a positive growth in 2014-15 (April- December).
- In 2013-14, India’s trade deficit (on customs basis) declined to US$ 135.8 billion from a high level of US$ 190.3 billion in 2012-13, mainly on account of a decline in the growth of imports (8.3%).However, in 2014-15 (April- January) trade deficit increased marginally by 1.6% to US$ 118.4 billion as against US$ 116.5 billion in 2013-14 (April-January).
- The Directorate General of Anti-dumping and Allied Duties (DGAD) conducts anti-dumping investigations on the basis of applications filed by the domestic industry with prima facie evidence of dumping of goods in the country, injury to domestic industry, and causal link between the dumping and injury to domestic industry.
- In 2013 also Brazil’s investigations were high at 54, followed by the USA and India. In 2014, till June end both India and the USA have initiated equal number of investigations. Of the 690 cases initiated by India (as on 30 June 2014), duty has been imposed in 535; imports from China faced the maximum number of initiations and out of 166 cases, duty was imposed in 134.
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SOME OF THE TRADE POLICY MEASURES TAKEN To diversify India’s exports, 7 new markets (Algeria, Aruba, Austria, Cambodia, Myanmar, Netherlands Antilles, and Ukraine) have been added to the FMS, 7 new markets (Belize, Chile, EI Salvador, Guatemala, Honduras, Morocco, and Uruguay) to the Special FMS, 46 new items to the MLFPS, and 12 new markets for the first time and 100 new items to the FPS list. Indian trade portal (www.indiantradeportal.in) was launched on 8 December 2014. This portal provides vital information to Indian industry on forty-two export markets and also a mechanism to take advantage of the increased market access provided through various regional and bilateral free trade agreements (FTA) and comprehensive economic cooperation/partnership agreements (CECA/CEPA). |
