List of Commodities traded between India and UK

International trade forms the backbone of economic relations between nations and encourages economic growth, cultural exchange, and diplomatic ties. Both countries have a long history of trade dating back centuries, and even today, they continue to engage in the exchange of various commodities that contribute to their respective economies. In this blog, we'll explore the list of commodities traded between India and the UK and shed light on the importance of this trade relationship.

What is the trade between India and the UK?

The UK's trade deficit with India narrowed in the four quarters to the end of Q1 2023, to £2.5 billion from £3.9 billion in the same period of 2022. This was due to a rise in United Kingdom imports from India, which increased by 28% to £21.6 billion. The main imports from India were machinery and transport equipment, chemicals, and clothing.

The UK is India's 12th largest trading partner, however, India stands 19th among partner countries to the UK, as per the Traders list of India and UK. There is a strong potential for further trade and investment between the two countries, particularly in the areas of technology, infrastructure, and services.

In recent years, the UK and India have signed a number of agreements to boost trade and investment, including a free trade agreement in 2022. The UK is also a member of the Indo-Pacific Economic Framework, which aims to promote trade and investment in the region.

The UK and India are two of the world's fastest growing economies, and they are well-positioned to benefit from the growing economic integration of the Indo-Pacific region. The further development of trade and investment between the two countries would be mutually beneficial and would help boost economic growth and prosperity in both countries.

Top 5 goods exported from India to the UK

The following are the top 5 goods exported from India to the UK:

1. Petroleum products: India is a major exporter of petroleum products, and the UK is a major importer. The main petroleum products exported from India to the UK are gasoline, diesel, and jet fuel.
2. Organic chemicals: India is a major exporter of organic chemicals, which are used in a variety of products, including pharmaceuticals, fertilizers, and plastics. The UK is a major importer of organic chemicals from India.
3. Pharmaceuticals: India is a major producer of pharmaceuticals, and the UK is a major importer. The main pharmaceuticals exported from India to the UK are generic drugs, vaccines, and over-the-counter medications
4. Engineering goods: India is a major exporter of engineering goods, such as machinery, equipment, and auto parts. The UK is a major importer of engineering goods from India.
5. Gems and jewellery: India is a major exporter of gems and jewellery, and the UK is a major importer. The main gems and jewellery exported from India to the UK are diamonds, gold, and silver.

Looking for a list of the largest trade partners between the UK and India? Visit EximPedia.app to explore the real-time market statistics on our single data-driven dashboard. 

List of Commodities traded between India and UK

Some of the top commodities traded between India and the UK are:

• Pharmaceuticals and Medical Equipment: India is known as the "Pharmacy of the World" due to its robust pharmaceutical industry. The UK imports a considerable amount of generic medicines, vaccines, and medical equipment from India. This exchange has been particularly crucial in times of global health crises, highlighting the significance of their cooperation.
• Textiles and Garments: The UK is a major market for Indian textiles and garments. Indian textiles, renowned for their intricate designs and quality, are in high demand in the UK. This trade benefits both countries, as it helps sustain India's rich textile industry while providing the UK with diverse and affordable clothing options.
• Machinery and Electronics: Machinery and electronic goods constitute another substantial portion of the trade between India and the UK. India exports various machinery, electrical equipment, and electronics to the UK, contributing to the latter's technological and industrial needs.
• Automobile Parts: The automotive sector is a key player in India's economy. The UK imports automobile parts and components from India, further integrating their automotive industries and enhancing the efficiency of production processes.
• Gems and Jewellery: India has a long-standing reputation for its exquisite gems and jewellery. The UK is a significant market for Indian jewellery exports, and this trade showcases the fusion of traditional craftsmanship with contemporary designs.
• Agriculture and Food Products: Agricultural trade between India and the UK includes commodities like tea, spices, rice, and fresh fruits. These exchanges not only cater to the culinary preferences of both nations but also provide farmers and producers with access to diverse markets.
• Chemicals: Chemicals and chemical products are integral to various industries. India supplies chemicals to the UK, contributing to sectors like pharmaceuticals, textiles, and manufacturing.
• Renewable Energy Technologies: In recent years, there has been an increased focus on renewable energy technologies. India and the UK collaborate in this sector, sharing expertise, knowledge, and technology to address climate change and energy challenges.

Conclusion:

The trade relationship between India and the UK is multifaceted and beneficial for both nations. By exchanging a wide range of commodities, they not only boost their respective economies but also enhance diplomatic ties and cultural understanding. As the global economic landscape continues to evolve, this trade partnership serves as a testament to the enduring significance of international cooperation and collaboration.
Discover the Ultimate Traders List for India and the UK on EximPedia.app! Stay updated with the latest trends and statistics. EximPedia.app provides an in-depth analysis of UK trade with India and UK Trade Data. We also provide export import data, global trade data, and India trade data. Our data is up-to-date and accurate, and it can help you make informed decisions to grow your business globally.