Up to 788% rise! India’s imports from these countries spiked sharply in last 10 years
While the rise in the last decade is not very substantial, India’s imports from some of the countries witnessed a manifold increase in the past 10 years till FY22.
- Mar 14, 2023,
- Updated Mar 14, 2023 9:53 AM IST
India witnessed a nearly 22 per cent increase in its import bill to $601.70 billion during the ongoing financial year till January 2023 due to a sharp rise in crude oil imports. Data showed that the country's crude oil import increased 43 per cent YoY to $178.4 billion during the same period. In the last 10 years, India’s import bill also increased by 23 per cent to $613.2 billion in FY22 from $489.1 billion in FY 12. While the rise in the last decade is not very substantial, India’s imports from some of the countries witnessed a manifold increase in the past 10 years till FY22.
Here is all you need to know:
China is India’s biggest supplier with total imports worth $83.7 billion so far in FY 23 till January, according to CMIE Economic Outlook. It was followed by UAE at $44.2 billion, the USA at $42.9 billion, Russia at $37.6 billion and Saudi Arabia at $35.5 billion. These top five countries account for 41 per cent of India’s total imports.
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India witnessed a nearly 22 per cent increase in its import bill to $601.70 billion during the ongoing financial year till January 2023 due to a sharp rise in crude oil imports. Data showed that the country's crude oil import increased 43 per cent YoY to $178.4 billion during the same period. In the last 10 years, India’s import bill also increased by 23 per cent to $613.2 billion in FY22 from $489.1 billion in FY 12. While the rise in the last decade is not very substantial, India’s imports from some of the countries witnessed a manifold increase in the past 10 years till FY22.
Here is all you need to know:
China is India’s biggest supplier with total imports worth $83.7 billion so far in FY 23 till January, according to CMIE Economic Outlook. It was followed by UAE at $44.2 billion, the USA at $42.9 billion, Russia at $37.6 billion and Saudi Arabia at $35.5 billion. These top five countries account for 41 per cent of India’s total imports.
Also Read: PM Modi meets Nokia CEO Pekka Lundmark, discusses next-gen digital infra
Also Read: Congress moves adjournment motion seeking discussion on Adani Group issue