Abstract—Any country whether, rich or poor, small or big,
cannot be completely self-sufficient. Irrespective of its position
on the ladder of power, every nation needs either raw material
or finished goods in order to meet internal demands. On the
other hand, the less developed nations benefit due to their costeffectiveness,
making trade a win-win for both. In short, every
country is involved in import-export transactions.
International trade has evolved over the years, while becoming
more sophisticated, convenient and relatively safer. Risks have
minimized due to a better legal structure pertaining to
international trade which aims at protecting, both importers
and exporters. Regulating and governing bodies such as the
World Trade Organization (WTO) have streamlined the
export-import system. Trade agreements like the North
American Free Trade Agreement (NAFTA) have promoted
growth of the foreign trade in various countries. Now it is
relatively easier for smaller countries to go beyond borders and
compete in the global market. This paper attempts to explore
the behavior of Indian imports of chief commodities during the
period 2002-2012 while ascertaining its buying patterns within
this period. The paper also looks at the corresponding trends of
Balance of Payments in order to get a clearer picture of the
international trade scenario. The demand for more imported
products is growing exponentially and businesses are taking
these import-export opportunities seriously. However, the
import demand is studied, keeping in mind the current
situation of India as it gives a better idea about the factors
affecting the same. Hence, the paper also looks at determining
the factors affecting import demand by examining the current
Indian economic situation.
Index Terms—Imports, international trade, demand factors,
exports.
The authors are with the Pandit Deendayal Petroleum University,
Gandhinagar, Gujarat, India 382007 (e-mail: payalshah2892@gmail.com,
sannidhivyas@gmail.com).
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Cite: Payal K. Shah and Sannidhi R. Vyas, "Examining Trends of Indian Imports during the Period of
2002-2012," Journal of Economics, Business and Management vol. 3, no. 8, pp. 820-825, 2015.