India's import-export landscape has remained stable in recent years despite major changes in the domestic and international economies. In recent years, India's main import and export commodities have mostly not changed, while its largest trading partners have also remained the same. This stable import-export structure bodes well for businesses that trade with India, as well as those that would like to expand their operations to the country.
India has been one of the largest importers of crude petroleum in the 2015 Financial Year (FY). In the same year, India has also been one of the largest exporters of petroleum products. These statistics demonstrate a stable level of trade for the oil industry in India. India enjoys a similar trade dynamic with gold, precious and semi-precious stones – the jewelry sector continues to play a leading role in the global trade. Encouragingly, however, India's import-export landscape is evolving.