Import of Goods Value from India (1990-2023)

India’s import value reflects its transition to a rapidly growing economy. Starting at $23.5B in 1990, imports climbed steadily throughout the 1990s, driven by economic liberalization and rising demand for technology and energy. A significant surge occurred between 2003 and 2008, with imports jumping from $72.5B to $321.0B, reflecting industrialization and increased energy needs.

The global financial crisis caused a temporary dip, but imports rebounded, reaching $720.4B in 2022. This rise highlights India’s role as a global manufacturing hub and its energy dependence. The slight decline to $672.2B in 2023 reflects economic adjustments amid global uncertainties.