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Imports Overview Commoditywise Five major commodities led by petroleum crude and products account for 66 percent of countrys total imports Other product groups include pearls machinery gold and silver electronic goods and organic inorganic chemicals In six years 1994-95 to 2000-01 share of petroleum and other petro products in Indias total imports increased by 1084 percent pearls by 397 percent and electronic goods by 643 percent Share of gold and silver in countrys total imports during this period dropped by 679 percent at 824 percent and organic inorganic chemicals by 255 percent at 491 percent Movements have been quite varied in the four principal categories of imports oil non-oil bulk export-related and other imports While oil imports have fluctuated quite significantly as is to be expected and rose to relatively high levels in 1996-97 and 1999-00 to 2000-01 export related imports have shown a low but consistent rate of increase since 1994-95 Non-oil bulk imports on the other hand have stagnated till the mid-1990s risen by a small amount during 1995-97 and stagnated once again thereafter The really striking feature of the experience is the increase in other imports between 1991-92 and 1998-99 after which they have stagnated We must note here that the segment of imports most affected by liberalisation was the large category of other imports which includes most manufactured imports directed towards production for or direct sale in the domestic market The share of that category which stood at 40 per cent in 1990-91 rose to 47 per cent in 1995-96 and 52 per cent in 1998-99 before falling to 43 per cent in 2000-01 One reason why the other imports category did not rise even further as a result of the liberalisation was the fact that capital goods imports which rose from 42 billion in 1991-92 to 103 billion in 1995-96 stagnated thereafter fluctuating between 9 and 10 billion till 1998-99 After 1998-99 when industry began
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