Scribd
Upload
152 views

Imports and Exports

Imports and exports were started to help develop national economies by allowing countries to obtain resources and skills not available domestically, though trade barriers are imposed to protect local industries. Importing benefits include introducing new products, reducing costs, becoming an industry leader, and providing high quality goods. Exporting benefits include increasing sales potential, profits, and market reach globally. Currently, India has a large trade deficit as it exports goods like refined petroleum and diamonds but imports more overall, though its export economy is growing and could make it one of the world's largest exporters by 2030 if economic growth continues.

Uploaded by

suresh yadav
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
152 views

Imports and Exports

Imports and exports were started to help develop national economies by allowing countries to obtain resources and skills not available domestically, though trade barriers are imposed to protect local industries. Importing benefits include introducing new products, reducing costs, becoming an industry leader, and providing high quality goods. Exporting benefits include increasing sales potential, profits, and market reach globally. Currently, India has a large trade deficit as it exports goods like refined petroleum and diamonds but imports more overall, though its export economy is growing and could make it one of the world's largest exporters by 2030 if economic growth continues.

Uploaded by

suresh yadav
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 8

IMPORTS AND EXPORTS

PRESENTING BY-
VISHAL YADAV (27)
SIDDHESH SAWANT (21)
WHY DID IMPORT AND EXPORT
STARTED

Exports and imports were started for the


development and growth of national economies
because not all countries have the resources and
skills required to produce certain goods and
services. Nevertheless, countries impose trade
barriers, such as tariffs and import quotas, in
order to protect their domestic industries.
BENEFITS OF IMPORTING
1. INTRODUCING NEW PRODUCTS TO
THE MARKET.
2. REDUCING COSTS
3. BECOMING A LEADER IN THE INDUSTRY
4. PROVIDING HIGH QUALITY PRODUCTS
BENEFITS OF EXPORTING
1. INCREASING YOUR SALES POTENTIAL
While importing products can help businesses reduce
costs, exporting products can ensure increasing sales and
sales potential in general. Businesses that focus on exporting
expand their vision and markets regionally, internationally or
even globally
2. INCREASING PROFITS
Exporting products can largely contribute to increasing your
profits. This is mainly due to the foreign orders, as they are
usually larger than those placed by the local buyers. While
local customers buy a few products or a pallet, businesses
abroad oftentimes order a container of products which
inevitably leads to increased profits. Moreover, if your
products are considered unique or innovative abroad, your
profits can increase rapidly in no time.
CURRENT POSITION OF IMPORT
AND EXPORT
 India is the 17th largest export economy in the
world and the 45th most complex economy
according to the Economic Complexity Index
(ECI). In 2017, India exported $292B and
imported $417B, resulting in a negative trade
balance of $125B. In 2017 the GDP of India
was $2.6T and its GDP per capita was $7.06k.
 The top exports of India are Refined
Petroleum($30.2B), Diamonds ($26.5B), Pack
aged
Medicaments($13.2B), Jewellery ($8.66B)
and Rice ($7.05B)
FUTURE OF IMPORT AND
EXPORT.
 By 2030, India can expect to become a trillion dollar
economy if it maintains its pace of progressing by and
above 8.2 % GDP growth rate as of present quarter.
Moreover, India could be the world’s fastest growing
exporter between 2014 and 2030, moving from the 14th
largest exporter of goods by value to the world’s 5th
largest, as published by an HSBC global trade report.
 With Govt. of India’s favourable trade policies India’s
textile export business is set to rise by 12% per year and
of course, the massive automotive business can see a
rise of more than 15%.
 China and India – along with Vietnam – will be the
fastest-growing suppliers of U.S. imports. Contributing to
an average growth of 8–10% of Asia. But if U.S .resorts
to protecting its interests strictly (as it’s doing with China
presently while slapping higher export tariffs), India would
lose a good game in export trade to US by almost 30%.
by 2030.
THANK YOU

You might also like