Some of the sectors where imports are discouraged as per the India Import Export Data are: • Power sector. It is India’s current aim to become self sufficient when it comes to power generation. • Gold. India does not wish to fluctuate the gold prices in the country. • Luxury accessories. India does not wish to give away precious foreign currency to bring in luxury items like watches that only a select few in the population use.

1. India Import Export Data- the emerging picture
Exporting is the process of selling goods by one nation to the other in exchange of a
commonly accepted currency. The commonly accepted currency is usually the US Dollar or
the Euro. The country which is exporting the goods often has an excess of the goods or has a
monopoly over the production of that particular commodity. Example- India has the
monopoly when it comes to the selling and production of 2 brands of tea. India import
export data helps analyse the amount of exports that India is doing on an annual basis.
Importing is the process of buying of a commodity by one nation from another nation in
exchange of some commonly accepted currency. Some countries often discourage imports as
they feel that importing of goods will reduce the amount of foreign currency the country is
holding. On analysing the India Import Export data we find that India still discourages
large scale imports in certain sectors but encourages imports in other sectors like petroleum
imports.
Some of the sectors where imports are discouraged as per the India Import Export Data
are:
•
Power sector. It is India’s current aim to become self sufficient when it comes
to power generation.
•
Gold. India does not wish to fluctuate the gold prices in the country.
•
Luxury accessories. India does not wish to give away precious foreign
currency to bring in luxury items like watches that only a select few in the
population use.
Some sectors were imports are encouraged are petroleum and cooking oil.