Trade Promotion Programme -
Focus: CIS
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I. INDIA - A BRIEF
ECONOMIC & TRADE PROFILE
India
is among the fastest growing economies of the world
& has registered 9.4% growth in GDP in the year
2006-07 (Source: Press Information Bureau,
Government of India). It is the world's fourth
largest economy in terms of purchasing power parity
(Source: World Bank, Yr. 2006). India is the 7th
largest country by geographical area and second most
populous country of the World (Source: UN Database,
Yr. 2007 est.). India's foreign exchange reserves
have risen from US$ 5.8 Billion in March 1991 to US$
208 Billion in June, 2007 (Source: Reserve Bank of
India).
India's
GDP (Official Exchange Rate) is US$ 805 billion
while its GDP per capita (purchasing power parity)
is US$ 3800. (Source World Factbook, Yr 2006 est.)
During
the last 10 years, India's total trade has risen by
more than 4 times from US$ 72.60 Billion in 1996-97
to US$ 316.90 Billion in 2006-07.
A
major shift in India's export destinations has been
observed during the last 10 years. Top 5 export
destinations of India in Yr. 1996-97 were USA, UK,
Japan, Germany and Hong Kong with 43% share. In the
Yr. 2006-07, top 5 destinations are USA, UAE, China,
Singapore and UK with a share of 40.17%. India's
exports registered significant growth in case of UAE
& China at 39.84% & 22.7% respectively (Yr.
2006-07 over yr. 2005-06).
India's
trade with CIS Region has risen by 19.41% in the
year 2006-07 over the previous year with total trade
worth US$ 5 Billion. Major trading partner of India
in the CIS region is Russia with 61.2% share in
exports & 59.8% share in India's total imports
from the region. Ukraine with a share of 25.8% in
India's total trade with CIS region is the second
most important trading partner. India's major export
commodities to the CIS region are Pharmaceuticals,
Coffee/Tea/Spices, Readymade Garments, Iron &
Steel & Machinery whereas major import
commodities from the CIS region are
Iron/Steel/Nickel, Fertilizers, Mineral Fuel,
Cereals & Rubber.
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