India's share in the global trade, has increased from 0.4% in 1980-95 to 1.1% in 2004 to 1.5% in 2006-07 and about 2% in 2014. Foreign trade, as a percentage of GDP (in rupee terms) was over 45% in 2010, up from 14.1% in 1990-91.
Total foreign trade by India:
World's top exporters
India's export growth is the second fastest in the world after China's. India's services contributed about 35% of the total exports as of 2010-11. India's chief exports include computer software, agricultural products (cashews, coffee, tea, pulses, spices and tobacco), cotton yarn and clothing (ready-made garments and silk), gems and jewellery, cut diamonds, handicrafts, iron ore, mica, jute products, leather goods, shrimp. The country also exports industrial goods, such as appliances, electronic products, transport equipment, light machinery as well as chemical and engineering products. India imports rough diamonds, cuts them, and exports the finished gems. India's export partners are US 12.6%, UAE 12.2%, China 8.1%, Hong Kong 4.1% (2010)
World's top importers
Capital goods and fuel, each account for more than a quarter of Indian imports. Other imports of India include edible oils, fertilizer, food grains, iron and steel, industrial machinery, professional instruments and transportation equipment. Chemicals, precious and semi-precious stones and non-ferrous metals are the other major imports. India's main import partners included China 12.4%, UAE 6.5%, Saudi Arabia 5.8%, US 5.7%, Australia 4.5% (2010).
Foreign Exchange Rates (per US $)
The Indian rupee is significantly, albeit not fully, convertible for current account balances. By and large, the Indian exchange control regime is flexible to allow the market to play an important role in the determination of the exchange rate.
Foreign Direct Investment
According to UNCTAD's report, India's is ranked 9th most attractive investment destination in the world, in terms of FDI (Foreign Direct Investment). FDI as a percentage of GDP has increased from 0.9% in 2005 to 2.8% in 2008 (higher than China's)
funds inflow, 2011
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