Question

Examine the changing pattern of the composition of India's imports. 

Answer 1

1. India faced serious food shortage during 1950s and 1960s. The major item of import at that time was foodgrain, capital goods, machinery and equipment.
2. The balance of payment was adverse as imports were more than export in spite of all the efforts of import substitution.
3. After 1970s, foodgrain import was discontinued due to the success of Green revolution but the energy crisis of 1973 pushed the prices of petroleum, and import budget was also pushed up.
4. Foodgrain import was replaced by fertilisers and petroleum. Machine and equipment, special steel, edible oil and chemicals largely make the import basket. It indicates the tempo of rising industrialisation and better standard of living.
5. Import of capital goods maintained a steady increase due to rising demand in the export-oriented industrial and domestic sectors. Non-electrical machinery, transport equipment, manufacturers of metals and machine tools were the main items of capital goods.
6. Import of food and allied products declined with a fall in imports of edible oils. Other major items of India’s import include pearls and semi-precious stones, gold and silver, metalliferrous ores and metal scrap, non-ferrous metals, electronic goods, etc.

Answer 2

India's import pattern and composition have changed dramatically throughout time. Previously, India mostly imported heavy machinery, electronics, and petroleum items to meet its industrial and energy requirements. However, recent trends reveal a diversification in import composition, including high-value and technology-driven commodities such as smartphones, medical equipment, and pharmaceuticals. In addition, despite efforts to enhance renewable energy sources, crude oil imports have increased in response to rising energy demands. The changing pattern reflects India's economic growth, technological advancement, and changes in consumer tastes, indicating a dynamic and evolving import sector.