Industries in India which are opportunities for importing from China have been changing
over the years. Much of this is due to the government of India's Import Substitution
policy. In order to be self-sufficient, the government wanted India to produce similar
or identical goods in its own country rather than relying on imports.
Industries such as newsprint, textiles and bicycles which were heavily reliant on
imports a half a century ago have shifted more to local production due to the Import
Substitution policy. Even though there is a shifting away from imports in certain
industries, it does not mean that importing goods to India is no longer a good business
venture. The bulk of India's imports are raw materials such as cotton, wool, gems
and precious stones.
It appears these days that the import of Chinese goods is entering at an aggressive
rate. Consumer products such as cigarette lighters, batteries, locks, car stereos,
toys, fans, energy saving lamps are flooding the Indian market.
Industries in India
Here are some of the largest import categories for India:
The largest import industry in India is machinery. Much of it is imported from Japan,
the United States, England, Germany and Russia. Large heavy machinery such as nuclear
reactors and mechanical appliances fall within this category. There is also electrical
machinery and equipment which includes sound and television recorders.
Transport equipment is another large import industry in India. It mainly comes from
Britain, Italy, the United States, Germany and Japan. This industry covers items
from boats, airplane, automobiles and railroad cars.
Jewelry & Stones
Pearls, precious or semi-precious stones/metals; initiation jewelry are significant
sources of imports for India. Precious stones often come from America, South Africa,
and Belgium. India often imports the raw materials, adds value and then export s
them back out of the country. The people of India have a love affair with gold jewelry.
Consequently, India is the largest importer of gold in the world.
Clocks & Instruments
Although watch consumption in India is low relative to industrialize countries around
the world, the import category of instruments & apparatus; clocks & watches; parts
and accessories is still quite large. Similar to the situation in western countries,
watches are considered to be means of expressing oneself. However, clocks are strictly
a utility product.
The textile industry in India imports raw materials of wool, cotton, silk and man-made
materials for further production by its 30+ million textile workers. Finished goods
are then exported around the world.
Import Industries in India
The above are some of the key industries in India for the India importer to further
examine to identify potential products within the categories as import opportunities.