The Hindu Business Line : Marginal rise in import of sensitive items in 2007-08

New Delhi, May 30 Even as the country’s overall import growth during the fiscal 2007-08 logged a relatively high growth of close to 13 per cent in rupee terms, the import of 300 sensitive items registered a meagre growth of 0.5 per cent, as compared to the previous fiscal.

An official statement on import of sensitive items being monitored by the Department of Commerce in view of their direct impact on the domestic prices shows that the total import of sensitive items for April 2007 to March 2008 has been Rs 28,664 crore against Rs 28, 508 crore during the corresponding period of 2006-07, thereby showing an increase of 0.5 per cent.

The gross import of all commodities during the fiscal 2007-08 was Rs 9,49,134 crore against Rs 8,40,506 crore in 2006-07.

Thus, import of sensitive items constituted 3.4 per cent and 3 per cent of the gross imports during 2006-07 and 2007-08, respectively.

Imports of foodgrains and milk and milk products have shown a decline at broad group level during the period. Imports of items viz. edible oil, fruits and vegetables (including nuts), cotton & silk, automobiles, products of SSI, rubber, spices, alcoholic beverages, marble and Granite and tea and coffee have shown increase in 2007-08.

Interestingly, despite the hefty import duty on alcoholic beverages on which India has been dragged to the WTO by the EU and the US, the growth of import in alcoholic beverages in 2007-08 was 40.5 per cent at Rs 296.75 crore against Rs 211.24 crore.

Automobile segment

Another high import growth segment was automobiles which registered 107 per cent growth at Rs 1,303.72 crore against Rs 630.62 crore. Tea and coffee import too registered a substantial growth of 55.2 per cent at Rs 140.97 crore against Rs 90.81 crore.

Edible oil

In the edible oil segment, the import has increased from Rs 10,086 crore last year to Rs 10,990 crore. The import of crude oil as well as refined oil has gone up by 9.5 per cent and 5 per cent, respectively. The increase in edible oil import is mainly due to significant growth in import of crude palm oil and its fractions, which has gone up by 21 per cent.

Imports of sensitive items from Indonesia, Canada, China, the US, Sri Lanka, Brazil, Germany, Tanzania, Thailand, Japan, the UK and Nepal have gone up while those from Argentina, Myanmar, Russia, Cote D’Ivoire, Malaysia, Australia and Ukraine have shown a decrease.

More Stories on : Exports & Imports

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page