By Timothy Adler on Small Business – Advice and Ideas for UK Small Businesses and SMEs
Colourful. Vibrant. Chaotic. Anybody who has visited India realises that our shared history makes it an attractive trading partner at a time when some importers may have qualms about importing from its bigger rival in Asia, China.
Despite the downturn last year due to the pandemic, the OECD has projected India’s economy to grow by 9.9 per cent this year to become the fastest-growing economy in the G20.
Total UK imports from India amounted to £11.6bn in the four quarters to the end of Q1 2021. India was the UK’s 15th largest trading partner in the four quarters to the end of Q1 2021, accounting for 1.6 per cent of total UK trade.
Of all UK imports from India in the four quarters to the end of Q1 2021, £6bn (52 per cent) were goods and £5.6bn(48 per cent) were services.
In 2019, around 14,500 UK VAT-registered businesses imported goods from India, accounting for around £7.9bn of imports.
The top 5 goods imported to the UK from India in the four quarters to the end of Q1 2021 were:
Clothing (£681.6m or 11.4 per cent of all UK goods imported from