India Import Intelligence — Trade Data, Source Countries, Tariff Schedules & EU Export Opportunities

By Sector — FY2024

India's Top Import Sectors

Source: DGFT / Ministry of Commerce India FY2024 import data. Values in USD Billion.

#	Sector	Import Value	Share	Growth	Top Source Countries	Basic Customs Duty
1	Crude Oil & Petroleum	$232B	34.3%	+8.1%	Russia (41%), Iraq (21%), Saudi (13%)	Nil (feedstock)
2	Electronic Goods	$78.4B	11.6%	+14.2%	China (62%), USA (12%), Taiwan (8%)	0–20% (product-wise)
3	Machinery (non-electrical)	$45.2B	6.7%	+9.8%	China (32%), EU (25%), USA (18%)	7.5–15%
4	Gold & Precious Metals	$46.8B	6.9%	+15.4%	Switzerland (28%), UAE (22%), South Africa	10–15% (gold); varies
5	Coal & Coke	$30.1B	4.4%	-12.3%	Australia (45%), Indonesia (28%), USA	Nil to 2.5%
6	Chemicals & Plastics	$28.9B	4.3%	+6.2%	China (28%), USA (18%), EU (20%)	7.5–12.5%
7	Vegetable Oils	$18.6B	2.7%	+5.1%	Indonesia (45%), Malaysia (25%), Argentina	Nil to 100% (sensitive)
8	Iron & Steel	$12.3B	1.8%	-8.4%	China (35%), South Korea (18%), Japan	7.5–12.5%
9	Medical Devices & Equipment	$8.9B	1.3%	+18.2%	USA (28%), Germany (22%), China (18%)	7.5–12% (most items)
10	Fertilisers	$8.7B	1.3%	+4.5%	Russia (30%), Saudi (20%), China (18%)	Nil to 5%
11	Aircraft & Parts	$6.8B	1.0%	+42%	USA, France, Canada	Nil (under MRO scheme)
12	Luxury Goods & Cosmetics	$4.2B	0.6%	+22.1%	France, Italy, Switzerland, UK	100% (luxury goods)

By Source Country — FY2024

Where India Imports From

#	Country	Value	Share	FTA Status
1	🇨🇳 China	$101.7B	15.0%	No bilateral FTA
2	🇷🇺 Russia	$61.4B	9.1%	No FTA (crude oil surge)
3	🇺🇸 USA	$40.2B	5.9%	No bilateral FTA
4	🇦🇪 UAE	$29.8B	4.4%	CEPA 2022
5	🇸🇦 Saudi Arabia	$27.4B	4.1%	GCC FTA (negotiating)
6	🇮🇶 Iraq	$22.1B	3.3%	Crude oil — bilateral deal
7	🇨🇭 Switzerland	$18.9B	2.8%	Gold trade — EFTA FTA 2024
8	🇩🇪 Germany	$12.8B	1.9%	EU FTA (2026)
9	🇯🇵 Japan	$10.3B	1.5%	CEPA 2011
10	🇮🇩 Indonesia	$9.8B	1.5%	ASEAN FTA 2010
11	🇰🇷 South Korea	$8.9B	1.3%	CEPA 2010
12	🇬🇧 UK	$7.5B	1.1%	FTA under negotiation
13	🇹🇭 Thailand	$7.2B	1.1%	ASEAN FTA 2010
14	🇧🇪 Belgium	$6.8B	1.0%	EU FTA (2026)
15	🇳🇱 Netherlands	$6.4B	0.9%	EU FTA (2026)

China Dominance — The Concern

China supplies 15% of all Indian imports — but its dominance is even more concentrated in strategic sectors: 62% of India's electronic goods imports, 35% of iron & steel, 32% of non-electrical machinery, 28% of chemicals and plastics.

India's government has introduced Production-Linked Incentive (PLI) schemes in 14 sectors to reduce Chinese supply chain dependency — creating $26B+ in manufacturing investment and opening opportunities for European technology transfer and machinery supply.

China Share by Category

Electronics 62%

Iron & Steel 35%

Machinery 32%

Chemicals & Plastics 28%

Organic Chemicals 25%

EU Import Share from India

€42 Billion

Total EU exports to India (2024)

The EU is India's 3rd largest source of imports — but with only 6.2% share, significantly below China (15%) and Russia (9.1%). The India–EU FTA will reduce Indian import duties on EU goods from a weighted average of 28% to near-zero over 7–10 years — the largest single tariff reduction in India's import history.

EU → India — The Opportunity

EU Exports to India — Current Position & FTA Opportunity

EU currently exports €42B to India — a fraction of potential. With Indian import duties at 28% average weighted, the FTA creates the largest tariff opening the EU has achieved with any developing economy.

EU Export Sector	Current EU → India	Indian Import Duty	Post-FTA Duty	Timeline	Why India Needs It	EU Competitive Advantage
Machinery & Equipment	€12.4B	7.5–15%	0–2.5% (7–10 yrs)	2026–2036	PLI scheme manufacturing needs	German/Italian precision machinery preferred over Chinese for quality-critical applications
Chemicals & Specialty	€8.2B	10–12.5%	0% (3–5 yrs)	2026–2031	Indian pharma and agro need EU specialty inputs	European specialty chemicals = quality benchmark globally
Aircraft & Aerospace	€5.8B	Nil (MRO)	Nil	Ongoing	India adding 500+ aircraft by 2030 (IndiGo, Air India)	Airbus/Rolls-Royce dominant; MRO expansion in India
Automobiles & Parts	€4.9B	60–100% (CBUs)	15–35% (5–7 yrs)	2026–2033	India premium car market growing 18% YoY	BMW, Mercedes, Audi EVs — FTA duty reduction transforms economics
Medical Devices	€4.1B	7.5–12%	0–2.5% (3 yrs)	2026–2029	India building 200+ new hospitals annually	European MRI/CT/surgical = gold standard in India
Wines & Spirits	€0.9B	150%	50–75% (5–7 yrs)	2026–2033	India's premium spirits market growing 35% YoY	Bordeaux, Scotch, Prosecco — massive duty cut unlocks market
Technology Transfer	€2.1B	IP-based	Mode 3 facilitated	Ongoing	India digitisation: $150B IT spending annually	EU software, AI, manufacturing tech in demand
Luxury Goods	€2.4B	100%	50–65% (5 yrs)	2026–2031	India HNWI segment: 800,000+ individuals	French, Italian luxury — India the world's fastest-growing luxury market

India Customs Tariff Reference

India Import Tariff Schedule — Key HS Chapters

India's import tariff is structured across Basic Customs Duty (BCD), Social Welfare Surcharge (SWS, 10% of BCD), and in some cases IGST. The effective duty rate can reach 40–50% for many consumer goods. FTA post-FTA rate applies from implementation date. Source: Customs Tariff Act 1975 (amended) and India–EU FTA schedules (indicative).

Machinery & Capital Goods (HS 84–85)

Item	Current BCD	Note / Post-FTA
Industrial machinery (HS 8417–8438)	7.5%	7.5% + 0.75% SWS
Electronic components (HS 8533–8542)	0–7.5%	Most components Nil–5%
Computers / servers (HS 8471)	0%	IT Agreement signatory
Mobile phones (HS 8517)	20%	PLI scheme — domestic push
Medical equipment (HS 9018–9022)	7.5–12%	Some at 0% under health provisions
Electric vehicles / parts (HS 8703)	100% (CBU)	Pilot scheme: 15% for $35K+ imports

Consumer Goods & Luxury (HS 61–64, 71, 22)

Item	Current BCD	Note / Post-FTA
Garments / apparel (HS 61–62)	20%	Post-FTA: 0–5% (5 yrs)
Footwear (HS 64)	25%	Post-FTA: 0% (7 yrs)
Gems & jewellery (HS 71)	10–15%	Diamond: 5%; Gold: 15%
Alcoholic beverages (HS 22)	150% BCD	Post-FTA target: 50% (Scotch)
Cosmetics & toiletries (HS 33)	20%	Post-FTA: 0% (3–5 yrs)
Automobiles-CBU (HS 8703)	60–100%	Post-FTA: 15–35% (7 yrs)

Chemicals & Pharma (HS 28–30)

Item	Current BCD	Note / Post-FTA
Organic chemicals (HS 29)	7.5–12.5%	Post-FTA: 0% (5 yrs)
Pharmaceutical APIs (HS 2941)	0–10%	Most APIs at 5–10%
Finished formulations (HS 30)	10%	Post-FTA: 0% (3 yrs)
Specialty dyes (HS 3204)	7.5%	Post-FTA: 0% (5 yrs)
Agrochemical AIs (HS 2932)	10–12.5%	Post-FTA: 0% (5 yrs)
Medical devices (HS 9018)	7.5–12%	Post-FTA: 0–2.5% (3 yrs)

Agro & Food (HS 01–24)

Item	Current BCD	Note / Post-FTA
Wheat / maize (HS 10)	50–100%	Highly sensitive — long staging
Dairy products (HS 04)	30–60%	Excluded from FTA or very long staging
Wine (HS 2204)	150%	Post-FTA target: 50% (France pushing)
Olive oil (HS 1509)	100%	Post-FTA: 30–50% (7 yrs)
Processed food (HS 20–21)	30–100%	Varies widely by product
Spirits / beer (HS 2206–2208)	150%	Post-FTA: 50–75% (5–7 yrs)

Effective Duty Rate Note: India's effective import duty = BCD + Social Welfare Surcharge (10% of BCD) + IGST (5–28% on most goods). For example, a garment with 20% BCD also bears 2% SWS + 12% IGST = effective rate of ~37% before any FTA benefit. FTA reduces only the BCD element — IGST remains applicable. Consult a licensed customs broker for item-specific effective duty calculations.

Market Access Reality

Non-Tariff Barriers — What Tariff Data Doesn't Show

Even after FTA duty reductions, EU exporters face India's significant non-tariff barrier landscape. These are well-documented, manageable — but must be planned for.

BIS Mandatory Certification Manageable

Bureau of Indian Standards certification is mandatory for 400+ product categories including electronics, chemicals, medical devices, and food contact materials. EU CE mark does not substitute. BIS testing at Indian or BIS-recognised labs required. Processing: 3–8 months.

Food Safety & MRL (FSSAI) Important

India's FSSAI sets Maximum Residue Limits (MRLs) for pesticides in food products. EU MRLs and Indian MRLs differ significantly — some EU-legal residues exceed Indian limits. FSSAI food business licence required for importers.

Import Licensing (certain goods) Sector-specific

Certain goods require import licence from DGFT: hazardous chemicals, electronics (some categories), second-hand goods, arms & ammunition. India also maintains quantitative restrictions on some agricultural products.

Custom Valuation Disputes Common issue

Indian customs frequently enhances declared CIF values for electronics, machinery, and consumer goods — effectively increasing duty base. EU exporters should be prepared for valuation disputes and maintain transfer pricing documentation.

Quality Control Orders (QCOs) Rapidly expanding

India has issued QCOs for 700+ products including steel, chemicals, construction materials, and electronics — mandating BIS certification, NABL testing, or mandatory inspection before customs clearance. QCO list expanding rapidly.

GST on Imports Structural

IGST (5–28% depending on product) applies on top of customs duty — non-refundable for final consumers, but credit available for B2B importers registered under GST. Adds significantly to landed cost.

Port & Customs Delays Manageable

Average customs clearance time: 5–7 days at major ports (JNPT, Chennai, Mundra). Can be reduced to 1–2 days for AEO-certified importers. Documentation errors cause significant delays.

IPR / Brand Protection Important for brands

India has strengthened IP enforcement, but brand counterfeiting remains an issue for EU luxury, pharmaceutical, and technology brands. Indian Customs IP recordation (CBEC) is an essential first step.

EU Exporters to India

Highest-Opportunity Sectors for EU Exports to India — Post-FTA

🚗

Premium Automobiles & EVs

India's premium car market growing 18% YoY. FTA to reduce CBU duty from 60–100% to 15–35%. BMW, Mercedes, Audi, Volkswagen EVs become viable at €40–60K price point.

High Opportunity

🍷

Wine & Spirits

150% duty to 50–75% post-FTA. France (Bordeaux, Champagne), Italy (Prosecco), Scotland (Scotch) stand to gain €2–4B in additional India exports.

Very High Opportunity

⚙️

Industrial Machinery & PLI

India's PLI schemes in 14 sectors driving $26B capital equipment demand. German/Italian/Swiss machinery preferred for quality-critical production.

High Opportunity

💊

Medical Devices & Pharma Tech

India building 200+ hospitals annually. EU medical imaging, surgical instruments, diagnostics — duty cuts from 7.5–12% to 0%. Growing health infrastructure spend.

High Opportunity

💻

Green Technology

EU solar equipment, wind turbine components, EV batteries, energy storage — India's energy transition creates €8–12B opportunity for EU cleantech exporters.

Very High Opportunity

🎓

Education & Training

EU universities expanding India partnerships. Professional certification, executive education, digital learning — Mode 3/4 FTA provisions facilitate EU educational services.

Moderate Opportunity

🧴

Cosmetics & Luxury

India's HNW segment: 800K+ individuals. EU cosmetics duty 20% → 0% (3 yrs). French/Italian/German premium brands face dramatically improved economics.

High Opportunity

🌾

Specialty Food & Agro

Olive oil, specialty cheeses, premium wines, organic food. EU GI products (Champagne, Parmigiano) get legal protection in India. Affluent urban India: 60M consumers.

Moderate Opportunity

EU Company — Enter India

Bringing EU Goods or Services to India?

We facilitate EU company market entry into India — distributor identification, BIS certification coordination, import licensing, and commercial introductions to qualified Indian buyers. Commission-only. Both principals engaged personally.

Discuss India Market Entry Global Reach — 7 Corridors ← India Export Data

⚖️ Legal Disclaimer: This page and the data/information presented herein are for general commercial orientation and informational purposes only. All figures, trade data, tariff rates, regulatory requirements, and timelines are indicative only and subject to change without notice. Nothing on this page constitutes legal, tax, customs, financial, or regulatory advice. Vinod Kumar Jain and Amit Jain / Global Nexus Trade & Advisory are commercial trade intermediaries and not licensed legal advisers, customs agents, financial advisers, or regulatory specialists. Before relying on any information presented, engage qualified legal counsel, a licensed CHA (Custom House Agent), a certified tax adviser, and relevant regulatory specialists in both India and the applicable EU member state. All regulatory thresholds, timelines, and procedures must be independently verified before reliance.