International Trade Resources and Import Export Data

Cybex Exim Solutions is the leading Import export data provider in India. They provide the highest level of data & service quality to its customers and place an utmost importance on maintaining long term association with its clients. Their core strength lies in their team of professionals having utmost expertise in data mining, data banking and data analysis to ensure customized data solutions for its clients. It also provides free International Trade Resources like ISD Codes, Port Codes, Country code, Currency code, unit quantity code, Indian port list, Exchange rates, Inco terms, Foreign Embassies in India, Indian Embassies abroad, and Export Promotion Council.

ISD Code- International Standard Dialing Codes Directory Free Online Search. You need to use it as a prefix to an international number. Port Codes- Indian Customs ports can be located near airports, seaports, and land border crossings. Port codes help identify the port’s name.
Country code- Country codes are short alphabetic or numeric geographical codes which help in identifying a country.
Currency code- Currency code list is used in banking and business globally. Three character alphabetic and three digit numeric. It’s used internationally to distinguish one currency from another.
Exchange Rate: - Exchange Rate is the rate at which one currency is exchanged for another. It is also regarded as the value of one country currency in terms of another currency. We also provide latest currency news, currency conversion and exchange rate.
INCOTERMS: - Inco terms are a series of international sales terms published by International Chamber of Commerce. These are accepted by governments, legal authorities and practitioners worldwide for the interpretation of most commonly used terms in international trade.
Foreign Embassies and Consulates in India: - The official residence or offices of an ambassador, the staff working in such a building. We provide all the details (Address Details) of Foreign Embassies

International Trade Data. Data of 90+ Indian Ports. Data from Cybex has been an excellent analytical tool for taking crucial managerial decisions for the Exim community. Cybex has been instrumental in helping its clients to grow their business by providing thorough insight about the trade scenario in their industry. Cybex is a one stop shop for Export Import Data India.

Indian Custom duty and how to optimize your custom duty

Customs Duty is a form of indirect tax which is imposed every time goods are imported from the other country or Exported from India to some other country.

Customs Act 1962 is the basic law governing the collection of custom duty in India. It lays down the detailed guidelines for imposing and collection of custom duty on imports and exports, import-export procedures, prohibitions on import and export of goods etc. Central Board of Excise & Customs (CBEC) is the apex government body for customs related matters. It is a part of the Department of Revenue which works under the Ministry of Finance. All the policy matters concerning levy of customs and excise duties, prevention of smuggling, narcotics and evasion of duties etc are taken care of by CBEC through its various regional Offices. Objectives behind imposing Custom Duties:

Among the various reasons for levying Indian Custom Duty, the following are the major ones:
• Conservation of foreign exchange by restricting the imports of goods.
• Protection to our domestic Industry from overseas competition.
• Regulating imports and exports of goods to attain the policy objectives of the Government.
• Controlling the Imports and exports of commodities, especially restrictive and prohibited goods.

There are 3 ways of levying Customs Duty on goods:

1. Specific Duties: - Specific custom duty is a duty levied on each unit of quantity of product imported or exported from India. For example, Rs.50 on each square meter of cloth imported or Rs.1000 on each LCD set imported. In this method of imposing the duty the value is immaterial.

2. Advalorem Duties: When a custom duty is levied as a percentage on a value of goods Imported or Exported it is called Advalorem duty. An example would 10% of the F.O.B. value of goods imported. In this case, quantity of goods imported or exported is not taken into consideration but the emphasis is paid on the value of commodity imported or exported.

3. Compound Duties: - Sometimes custom duty is levied as a combination of specific and advalorem custom duty. In this case both Quantity and Value is taken into consideration to calculate the duty. For example, 10% of total F.O.B. value plus 10 rupee per unit of quantity of goods imported.

The Harmonized Tariff System (HTS) provides duty rates for all the commodities whether exported or imported. HS code is of 8 digit level and each 8 digit HS code denotes a particular type of commodity. Against each 8 digit HS code custom duty is fixed.
Export Import Data India and Indian Export Data are readily available in the market nowadays and are a reliable source to check the custom duty on your products. It helps you to optimize the custom duty payable on your products by choosing the right HS classification used by other importers to import the goods. By choosing the right HS classification/ product description you can save on the custom duty and become more competitive in the market. It also helps you to see the overall market scenario for your products whether you are an Importer or an exporter, it can serve as one of the cheapest but most strategic decision making tool for your organization.

Recent trend in commodity trade between India and China

Exports from India to China were down 30 per cent year-on-year in the first half of the year 2012-13, according to China Import Data, thus resulting in further widening of trade imbalance between the two countries in the favor of China .The trade deficit which stood at $1.08 billion in year 2001-02 has crossed $40 billion mark in year 2012-13.

The bilateral trade has declined by 7.2 % after the first six months of the year 2012-13 to $31.68 billion and stood at around 67.83 billion USD. Primary reason is the decrease in Indian exports to China which mainly comprised iron ore and cotton, fuelling the downfall.

Indian imports from China would cross $57 billion in fiscal 2012-13 according to China Export Data but the Exports to china may not exceed 14 billion USD.

China has the largest share of 11 percent in the total Indian imports of merchandise. The major products imported from China are Machinery, electronics and precious pearls.

Major products exported to China are transport equipments, petroleum products, machinery, drugs & Pharceuticals. As a part of Chinese Premier Li Keqiang’s recent visit to India, a series of memorandum of understandings have been signed between the two countries. MOU’s were signed on pharmaceuticals, buffalo meat and fisheries. India anticipates bridging the trade deficit as a result of singing these Mou’s in its favor as there were trade barriers in exports of drugs and pharmaceuticals to China. Even buffalo meat was not allowed to be exported from India to China till now.
The recent series of weakening of rupee would also have a deep impact on the widening the current account deficit of India as Indian imports would become dearer. China on other hand will be happy with its depreciating currency as it exports more than it Imports. Depreciating Chinese currency makes its goods cheaper in the international market.

Nhava Sheva largest container port of India

Nhava sheva port, which is also called JNPT port (Jawaharlal Lal Nehru Port Trust), is located near Navi Mumbai. It is constructed over a vast 10 square kilometers or around 2,500 acres; One of the key reasons for developing this port was to relieve pressure on Old Bombay port called Bombay port trust. Jawaharlal Nehru Port Trust is an autonomous corporation fully owned by the Government of India.

JNPT port, which is the largest port of India, handles about 65% of India's total container traffic of India. It handled around 64.32 million tones of total cargo during financial year 2011-11. Out of 64.32 million tones, 32.79 and 30.18 million tones were attributed to Import and export respectively.

According to JNPT Export Data , the major exports from Nhavasheva port are Readymade and knitted garments, sports goods, Home textile and floor coverings, textile machinery, frozen meat products, chemicals, and pharmaceutical intermediates and finished pharmaceutical formulations.

The main imports on JNPT port are chemicals, plant & machinery, plastic articles, Electrical goods, vegetable oils, aluminum products, ferrous and non-ferrous metals as per the JNPT Import Data. Most of the cargo traffic handled by JNPT port originates from or is destined for western and northern India like the states of Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, Delhi, Punjab and Haryana etc.
Import Export Data JNPT is the most reliable source for analyzing the macro and well as micro level trends of Export and Import of merchandise from Nhave shava port.

Recent changes in the pattern of India’s Export and Import

There has been paradigm shift in India’s Exports and Imports pattern from Developed countries of USA and Europe towards the developing markets. The main reason for this shift is slowdown or recession in the USA and European markets.

India’s share of imports from European countries fell to 17.32% in 2012-13. This share earlier stood at 19.32% in 2009-10, and the same is true for the share of India’s Import from the US which has decreased to 4.94% from 5.89% earlier, according to Export Import Data India. India’s exports of Goods have decreased by 1.76% in 2012-13 to around $301 billion, while its imports grew by 0.44% to $491 billion.

Indian imports from the US for electronic items has seen an increase of around USD 2.1 billion in FY 2012-13, on the other hand its imports of machinery and equipments has declined, which resulted in overall decline in the share of imports from US. The maximum benefit of this shift in Import pattern of India has been taken by China which commands a significant share in India’s Imports currently. There has been significant increase in China’s share in India’s import for transport equipment, iron and steel and in fertilizer in year 2012-13 over 2009-10.

The main reason for the shift in India’s imports is due to restructuring in global production facilities due to which supply chains have been moving eastward. Even the share of countries like South Africa & Australia in India’s import is falling because India is sourcing most of its demand for gold from Switzerland.

Share of Indian Import from countries such as Kuwait, Qatar, Venezuela and Nigeria has gone up because it is importing petroleum products from these countries which it was earlier sourcing from Iran.( Due to the sanctions imposed by the US.)

Indian Imports from Japan have gone up mainly owing to its demand for transport equipment, machinery, Iron & steel products. Share of Import of Vegetable Oils have been increased with Malaysia which was hitherto dominated by Indonesia. With the decrease in demand for electronic items from Singapore and S. Korea, their share has also taken a hit.

Import Export Data or India Export Data are the cheapest and the most reliable source for analyzing the changing trends in India’s Merchandise exports and Imports.