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JUNE 2014
INDEX
Particulars Page No. Particulars Page No.
JUNE REPORT MAIN POINTERS 01 HDPE OFFERS 15
IMPORT SNAPSHOT CAPACITY PROJECTIONS & DEMAND SUPPLY SCENARIO
HDPE INDIA IMPORT SNAPSHOT 02 HDPE CAPACITY PROJECTIONS OF MAJOR PRODUCERS 16
HD/LD/LLD % SHARE IN INDIA PE IMPORTS 03 ETHYLENE CAPACITY PROJECTIONS OF MAJOR PRODUCERS 16
HDPE MONTHLY IMPORTS REGION-WISE BREAKDOWN 03 INDIA HDPE DEMAND SUPPLY 17
INDIA HDPE IMPORTS COUNTRY-WISE BREAKDOWN 04 INDIA ALL PE DEMAND SUPPLY 17
INDIA HDPE DESTINATION PORT-WISE BREAKDOWN 05 INDIA POLYMER DEMAND SUPPLY 18
SOURCE COUNTRY DESTINATION PORT MATRIX JUNE 2014 06 INDIA ETHYLENE NET AVAILABILITY 18
PRODUCT PRICING GOI 5 YEAR PLAN CAGR FIGURES 19
HDPE GRADES AVERAGE MONTHLY PRICING 08
HDPE FILM MONTHLY PRICES (MAX/MIN) 09 INDIA IMPORT DUTY STRUCTURE 20
M-o-M AVERAGE PRICES % CHANGE 10
HDPE FILM 1 YEAR PRICE MOVEMENT 11 CRUDE PRICE MOVEMENT & INR V/S USD 21
HDPE FILM 3 YEAR PRICE MOVEMENT 11
ETHYLENE INDIA PRICE MOVEMENT 12 INDIA GDP GROWTH PROJECTIONS 2014-15 22
MAJOR PRODUCTS PRICE TRENDS 13
DISCLAIMER 23
IMPORTANT GLOBAL NEWS 14
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High-Density Polyethylene (HDPE)
June Report Main Pointers
HDPE import volume increased in the month of JuneHDPE grades witnessed no price change except for the Pipe grade which saw a fall of 0.88% in monthly average prices
HDPE accounted for 33.50% of all PE that was imported into India
89.47% of the HDPE that was imported into India in June was sourced from the Middle East region
Saudi Arabia, Qatar, UAE, Singapore and Kuwait were the largest exporters of HDPE to India.JNPT, Chennai, Mundra, Tuticorin and Cochin seaports were the largest HDPE import volume handling ports
HDPE was sourced from a total of 18 countries with 26 ports in India being the destination points
Ethylene prices witnessed a net downside in the month of June
Nymex crude and Dated Brent prices saw a net upside
INR witnessed a net depreciation against the USD
Central Board of Excise & Customs notifications on import/export USD exchange rates are as follows:
Dated June 5th2014: 59.85/USD (for imports) & 58.85/USD (for exports)
Dated June 19th2014: 60.45/USD (for imports) & 59.45/USD (for exports)
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Introduction
HDPE is sometimes also referred to as polyethylene high-density (PEHD) and sees high import volume into India given its various applications. It takes1.75 kilograms of petroleum (in terms of energy and raw materials) to make one kilogram of HDPE. Known for its large strength to density ratio, HDPE
finds applications in Raffia, Blow Moulding, Film, Pipes and Injection Moulding. HDPE is highly preferred as a sheathing material where it provides high
resistance to water penetration. It is very hard, has low coefficient of friction, and is abrasion resistant. Hence, it is used in products and packaging such
as milk jugs, detergent bottles, margarine tubs, garbage containers and water pipes.
HDPE is principally used for the manufacture of high-performance pipe, blow-molded household and industrial bottles, oil bottles, injection-molded food
containers, consumer durables and disposable goods and film goods such as grocery sacks and merchandise bags.
Import Snapshot
Exhibit:HDPE India Import Snapshot
D () C ( C) C
13 34253 8.20% 270 6.90%
13 28109 17.94% 227 15.93%
13 31391 11.68% 263 15.86%A13 29322 6.59% 249 5.32%
13 31949 8.96% 266 6.83%
13 33839 5.92% 285 7.14%
13 29801 11.93% 266 6.67%
A13 25050 15.94% 232 12.78%
13 24385 2.65% 244 5.17%
13 27253 11.76% 264 8.20%
13 24461 10.24% 240 9.09%
13 29833 21.96% 287 19.58%
14 30086 0.85% 293 2.09%
14 38919 29.36% 382 30.38%
14 35708 8.25% 351 8.12%
A14 36366 1.84% 352 0.28%
14 37020 1.80% 360 2.27%
14 37332 0.84% 360 0.00%
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Source: GoI Import Data
The table gives a snapshot on HDPE India imports in terms of volume imported and monetary value of the imports. The month of June saw HDPE import
level at 37332 MTS which represents a rise of 0.84% M-o-M. The monetary value of HDPE imports in June stood at Rs. 360 crores which is the same asthe preceding month.
Exhibit: HD/LD/LLD % share in India PE imports
Source: GoI Import Data
The chart shows the monthly HD/LD/LLD percentage share in total PE
imported into India.
Exhibit: HDPE monthly imports region-wise breakdown
Source: GoI Import Data
The above table lists the region-
wise breakdown of imported
HDPE. The bulk of HDPE imported
by India is sourced from the
Middle East region.
D 14 14 14 A14 14 14
AAC 6.06% 6.72% 9.64% 7.00% 11.39% 7.20%
1.49% 1.31% 0.99% 1.08% 1.44% 0.99%
A 91.08% 90.59% 87.81% 89.69% 85.83% 89.47%
ACA 1.29% 1.32% 1.49% 1.83% 1.27% 2.27%
ACA 0.08% 0.06% 0.07% 0.39% 0.06% 0.07%
100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
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Exhibit: India HDPE Imports country-wise breakdown
Source: GoI Import Data
The table lists out the countries from which HDPE was imported into India in 2014.
Saudi Arabia, Qatar, UAE, Singapore and Kuwait were the largest exporters of HDPE to India.
D () 14 14 14 A14 14 14
AA 11
B 25 124 97
BA 25 25 25 143 23 25
CAAA 23 23 138 70 47
CA 31 5 158 132 94 45
A 2 25
AC 15 58 61 61 25
A 335 279 241 221 129 157 23 105
A 88 35 210 67 1
A 644 2178 297 198 443
AA 366 388 423 391 383 277
A 552 693 637 641 455 426
A 1958 1715 1589 1774 1931 3059
AAA 102 136 260 34 188
A 11
AA 9695 9590 10393 10281 9727 7523
A AABA 13180 17976 15702 15583 15144 17776
A 438 596 882 574 2797 899
A 50 50 53
50 99 88 88 167 91
AA 46 51 272 17
AA 198 822 726 427 388 853
A 1926 3799 3372 4979 4774 4599
A 364 490 395 596 425 848
30086 38919 35708 36366 37020 37332
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Exhibit: India HDPE Destination Port-wise breakdown
Source: GoI Import Data
The table lists out the ports that handled the imported
HDPE in June 2014.
JNPT, Chennai, Mundra, Tuticorin and Cochin seaports
were the largest HDPE import volume handling ports in
India.
D () 14 14 14 A14 14 14
AABA 965 1387 634 607 931 418BAABA 61 82 17 13
BAA 56 211 160 144
BAA AA 90 198 256 272
BAA 1386 1139 891 1881 1485 198
CA A 3
CA 1575 3191 1803 2507 3016 2768
CC 834 833 1701 1422 1212 1424
A ABA 67 151 84 67 84
A C 67 84 A 12
A 116 224 346 373 324 248
AAA A 362 344 315 261 330 277
ABA A 1
ABA 492 988 662 980 708 457
19035 23181 20454 18387 20652 21850
CC 141
AA 124 124
A 15 15AA A 4
AA 270 786 1481 749 1020 1272
AA 48 64 64
AA 190 197 404 396 198 411
BA A 2 6
A 305 843 1578 2212 2438 1485
A 10 5 5 10
A 9 14 5 9
A 43 59AAA 2 2 4 10 3
A 248 215 198 1138
A 52 59 18 18 7
AA 208 192
A 36 74
AABA 945 1190 1831 1843 1282 1246
C 229 936 513 245 226 324
C 2449 2756 2035 3020 1883 3077
A 213 319 298 341 372 379
A 32 32 64 80 40
30086 38919 35708 36366 37020 37332
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Exhibit: Source Country Destination Port Matrix June 2014
C ()
D
A
B 97
BA ABA 25
BAA 20
25
AC 25
AAA A 50
80
AA 23
BA 6
A ABA 1
A 443
BAA 30
CA 15
AAA A 194
35
AAA 3
CA 272
CC 322
1425
A 99
C 594A 347
CA
A
AA
A
C ()
D
A
153
C 35
AABA 192
CA 832
CC 527
4733
AA 352
A 544
AABA 240
C 32
A 32
A 40
CA 25
874
25
AABA 66
CA 37
AAA A 16
747
AA 54
A 426
AA
AAA
AA
A
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Exhibit: Source Country Destination Port Matrix June 2014
Source: GoI Import Data
The tables above represent the source country and destination port matrix which lists out the ports which have received the HDPE imports from the
source countries for the month of June 2014. The type of port and the volume involved are also provided.
C () D A
AABA 226
BAA 74
BAA 198
CA 1545
CC 543
A ABA 84
ABA 432
9950
AA 744
AA 114
A 74
A 248
AABA 805
C 324C 2416
BAA 20
AAA A 18
780
A 10
AABA 20
A
A AABA
C ()
D
A
CA 41
CC 33
A 248
2033
AA 99
AA 297
A 767
A 9
A 59
A 891
A 7
AABA 116
A
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HDPE India Pricing
Exhibit:HDPE Grades Average Monthly Pricing
Source: PolymerUpdate Price Archives (Reliance Ex-Hazira Rs/Kg Basic)
The table lists out the average prices observed for the respective HDPE grades. Three month and six month averages are also provided. HDPE grades
witnessed no change in prices in the month of June except for the Pipe grade.
D B
14 106.96 109.29 109.83 112.43 108.34
14 106.96 109.29 109.83 113.43 108.34
A14 106.96 109.29 109.83 113.43 108.34
14 107.92 109.65 110.79 113.79 113.30
14 107.96 109.29 110.83 113.43 113.3414 105.54 106.87 108.41 111.51 111.42
13 102.80 103.63 105.67 108.27 108.68
13 101.71 102.54 104.58 107.18 107.59
13 101.46 102.29 104.33 106.93 107.34
13 104.56 105.39 107.43 109.03 110.44
A13 95.96 96.82 99.97 100.48 101.94
13 95.46 96.32 99.47 99.98 101.44
13 90.71 91.51 94.61 94.99 96.61
13 85.99 86.79 89.89 89.97 91.39
A13 85.80 86.60 89.70 90.05 91.20
13 87.80 88.60 91.70 92.27 93.20
13 87.96 88.76 91.86 92.43 93.36
13 85.64 86.44 89.54 90.11 92.80
3 A 106.96 109.29 109.83 113.10 108.34
6 A 107.05 108.95 109.92 113.00 110.51
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Exhibit:HDPE Film Monthly Prices (Max/Min)
Source: PolymerUpdate Price Archives (Reliance Ex-Hazira Rs/Kg Basic)
The table lists out the maximum and minimum prices that were observed for HDPE Film. HDPE Film prices registered a price of Rs. 106.96 per Kg in the
month of June.
D
14
14
A14
14 106.96 107.96
14
14 104.46 105.9613 102.46 103.46
13 100.96 102.46
13 100.96 101.96
13 103.96 104.96
A13
13 94.46 95.96
13 89.46 91.46
13 84.96 86.96
A13 84.96 86.46
13 86.46 88.96
13
13 83.96 86.96
106.96
106.96
87.96
95.96
107.96
106.96
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Exhibit:M-o-M Average Prices % Change
Source: PolymerUpdate Price Archives Reliance Ex-Hazira Rs/Kg Basic)
The table lists out the M-o-M changes for the respective HDPE grades considering average monthly prices.
D B
14 0.00% 0.00% 0.00% 0.88% 0.00%
14 0.00% 0.00% 0.00% 0.00% 0.00%
A14 0.89% 0.33% 0.87% 0.32% 4.38%
14 0.04% 0.33% 0.04% 0.32% 0.04%
14 2.29% 2.26% 2.23% 1.72% 1.72%
14 2.67% 3.13% 2.59% 2.99% 2.52%
13 1.07% 1.06% 1.04% 1.02% 1.01%
13 0.25% 0.24% 0.24% 0.23% 0.23%
13 2.96% 2.94% 2.89% 1.93% 2.81%
13 8.96% 8.85% 7.46% 8.51% 8.34%
A13 0.52% 0.52% 0.50% 0.50% 0.49%
13 5.24% 5.26% 5.14% 5.25% 5.00%
13 5.49% 5.44% 5.25% 5.58% 5.71%
13 0.22% 0.22% 0.21% 0.09% 0.21%A13 2.28% 2.26% 2.18% 2.41% 2.15%
13 0.18% 0.18% 0.17% 0.17% 0.17%
13 2.71% 2.68% 2.59% 2.57% 0.60%
13 3.32% 3.26% 3.13% 3.11% 2.75%
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Exhibit:HDPE Film 1 Year Price Movement
Source: PolymerUpdate Price Archives (Reliance Ex-Hazira Rs/Kg
Basic)
The chart shows the price movement for HDPE Film over a one year
time frame.
HDPE Film Price in the beginning of June 2013 = Rs. 84.96 per Kg
HDPE Film Price at the end of June 2014 = Rs. 106.96 per Kg
% Price change in 1 year = 25.89%
Exhibit:HDPE Film 3 Year Price Movement
Source: PolymerUpdate Price Archives (Reliance Ex-Hazira Rs/Kg
Basic)
The above chart shows the price movement for HDPE Film over a
three year time frame.
HDPE Film Price in the beginning of June 2011 = Rs. 69.01 per Kg
HDPE Film Price at the end of June 2014 = Rs. 106.96 per Kg
% Price change in 3 years = 54.99%
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Exhibit:Ethylene India Price Movement
Source: PolymerUpdate Price Archives (India CFR USD/MT)
Ethylene price in the beginning of June 2014 = 1455 USD per MT
Ethylene price at the end of June 2014 = 1450 USD per MT
% price change in June 2014 = -0.34%
Ethylene prices witnessed a net downside in the month of June.
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Exhibit:Major Products Price Trends
Source: PolymerUpdate Price Archives [HDPE (Reliance Ex-Hazira Rs/Kg Basic), LDPE (Reliance Ex-Mumbai Panvel Depot Rs/Kg Inclusive of excise duty),
LLDPE (Reliance Ex-Hazira Rs/Kg Basic), PVC (Reliance Ex-Hazira Rs/Kg Basic), PP (Reliance Ex-Hazira Rs/Kg Basic), PS (Ex-Works Rs/Kg Basic), PET(Reliance Ex-Hazira Rs/Kg Basic), EVA (Reliance Ex-Works Rs/Kg Basic)]
The table has been formulated by comparing the average price for the particular month as compared to the average price of the preceding month. If the
value is Up, the average price for the particular month was observed to be higher as compared to the average price for the preceding month. If the
value is Down, the average price for the particular month was observed to be lower as compared to the average price of the preceding month. If the
value is No Change, the average prices of the particular month and the preceding month were observed to be the same. We have considered the India
price movements of the following grades: HDPE Film, Blow Moulding, Injection, Pipe, Raffia; LDPE General, Heavy Duty, Injection, Lamination, Milk
Pouch; LLDPE Extrusion Coating, Film, Injection, Rotomoulding; PP Block Copolymer, BOPP Homopolymer, Injection, Raffia, Random Copolymer, TQFilm; PVC - Suspension; PET Bottle; PS GPPS, HIPS; EVA.
C A
13 13
13
A13 C
13 C
13
13
A13 C C
13
13
13
13 C C
14 C
14
14 C C
A14 C
14 C C C
14 C
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Important Global News
Shenhua Baotou Coal Chemical is likely to shut a linear low density polyethylene (LLDPE)/ high density polyethylene (HDPE) swing plant. APolymerupdate source in China informed that the plant is likely to be shut in July 2014 for maintenance turnaround. It is expected to remain shut
for around one month. Located in Shenhua, China, the plant has a production capacity of 300,000 mt/year
Petronas has restarted a high density polyethylene (HDPE) plant following maintenance turnaround. A Polymerupdate source in Malaysia informedthat the plant restarted in the last week of May. It was shut for a maintenance turnaround in early April 2014. Located at Kertih, Malaysia, theplant has a production capacity of 250,000 mt/year
Hungarian petrochemical major TVK has restarted a polyolefins complex following maintenance turnaround. A Polymerupdate source in Hungaryinformed that a 370,000 mt/year ethylene cracker at the complex restarted in early June 2014, following a maintenance turnaround of two weeks.A 180,000 mt/year polypropylene (PP) plant at the same site restarted on May 24 following a turnaround of two weeks and a high densitypolyethylene (HDPE) plant at the site resumed production on June 3 after a maintenance shutdown of around 3 weeks. The complex is located atTiszaujvaros in Hungary
PTT Global Chemical is in plans to shut its high density polyethylene (HDPE) plant for maintenance turnaround. A Polymerupdate source inThailand informed that the plant is likely to be shut in mid-June 2014. It is likely to remain off-stream for around two weeks. Located at Map TaPhut, Thailand, the plant has a production capacity of 300,000 mt/year
Shanghai Petrochemical has shut a high density polyethylene (HDPE) plant. A Polymerupdate source in China informed that the plant was shut onJune 17, 2014. The shutdown has been attributed to an accident at the plant. A restart date for the plant could not be ascertained. Located inShanghai, China, the plant has a production capacity of 250,000 mt/year
Source: PolymerUpdate Market Intelligence
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HDPE Offers
The above table lists the HDPE offers along with other details that were captured by our team.
Source: PolymerUpdate Market Intelligence
B
C
C D
C 1580 14 314
C 1620 A 14 314
C 1610 A 14 1714
C 1660 14 2314
C 1610 A 2014 2514
C 16201630 A / A 2014 3014 C 16401650 A / A 2014 3014
C 16301640 / A 2014 3014
C 1640 A 14 3014
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Capacity Projections & Demand Supply Scenario
Exhibit: HDPE Capacity Projections of the major producers in India
Source: Chemicals & Petrochemicals Manufacturer's Association of India (RIL- Reliance Industries Limited; GAIL- Gas Authority of India Limited; HPL-
Haldia Petrochemicals Limited; IOCL- Indian Oil Corporation Limited; OPAL- ONGC Petro Additions Limited; BPCL- Bharat Petroleum Corporation Limited)
Exhibit: Ethylene Capacity Projections of the major producers in India
Source: Chemicals & Petrochemicals Manufacturer's Association of India (RIL- Reliance Industries Limited; GAIL- Gas Authority of India Limited; HPL-
Haldia Petrochemicals Limited; IOCL- Indian Oil Corporation Limited; OPAL- ONGC Petro Additions Limited; BPCL-Assam GC - Bharat Petroleum
Corporation Limited Assam Gas Cracker)
D C () 201314 201415 201516 201617
490 490 490 490
A 700 700 700 700
550 550 550 550
C 475 475 475 475
A 720 720 720
BC 155 155 155 155
C () 201314 201415 201516 201617
1840 1840 3240 3240
A 1000 1000 1000 1000
670 670 670 670
C 857 857 857 857
BC A C 220 220 220 220A 0 1100 1100 1100
POLYMERUPDATE
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Exhibit:India HDPE Demand Supply
The table provides the India HDPE Demand Supply Snapshot.
Exhibit:India All PE Demand Supply
The table lists out the PE Demand Snapshot for India.
D () 201011 A 201112 A 201213 A 201314 201415 201516 201617
C 1690 1795 1795 1795 1830 2810 2810
/ C 847 1007 1007 1007 1007 1007 1007
C 2537 2802 2802 2802 2837 3817 3817
1216 1503 1501 1486 1621 2521 2606
330 385 440 410 480 220 230
55 227 160 115 65 368 500
A 1491 1661 1781 1781 2036 2373 2336
% 10.80% 11.40% 7.22% 0.00% 14.32% 16.55% 1.56%
A () 201011 A 201112 A 201213 A 201314 201415 201516 201617
C 2826 2965 2980 2980 3065 5115 5565
2072 2519 2457 2485 2654 4488 4996
970 1060 1217 1179 1313 790 730
65 251 170 125 77 588 730
A 2977 3328 3504 3539 3890 4690 4996
% 8.40% 11.79% 5.29% 1.00% 9.92% 20.57% 6.52%
POLYMERUPDATE
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Exhibit:India Polymer Demand Supply
The table lists out the India Polymer Demand Supply scenario.
Exhibit:India Ethylene Net Availability
All ethylene produced in India is used for local consumption and is not exported.
() 201011 A 201112 A 201213 A 201314 201415 201516 201617
C 3837 3907 3907 4157 5637 7127 7127
3000 3355 3744 3985 5165 6755 6955
55 15 23 50 25 25 25
0 0 0 0 0 0 0
A 3055 3370 3767 4035 5190 6780 6980
() 201011 A 201112 A 201213 A 201314 201415 201516 201617
C 8348 8487 8967 9882 10089 12290 12740 6854 7682 7958 8424 9059 11311 12089
82% 91% 89% 85% 90% 92% 95%
2087 2404 2970 2777 2957 2688 2907
722 1121 1057 1005 1215 1667 1641
1365 1283 1913 1772 1742 1021 1266
A 8219 8965 9871 10196 10801 12332 13355
% 7.40% 9.08% 10.11% 3.29% 5.93% 14.17% 8.30%
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GoI 5 Year Plan CAGR Figures
Source: GoI 12th 5 Year Plan on Petrochemicals
The table gives the Actual CAGR achieved in the 11th 5 Year Plan (2005/06 2011/12) and the projected CAGR for the 12th 5 year Plan (2011/12
2016/17) and 13th 5 year Plan (2016/17 2021/22) for HDPE and Ethylene. As per government projections, HDPE is likely to enjoy above GDP growth
rates in the 12th and 13th 5 Year plan periods.
5 D CA
C C 9.20% 9.00%
10.90% 7.00%
C C 11.10% 12.90%
9.20% 12.40%
13 5
(2016/17
2021/22)
9.00% 0.80%
11 5
(2005/06
2011/12)
12 5
(2011/12
2016/17)
A
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C D: 344, A . , . . , (), 400018, DA : @. : +912261772000 (25 ) : +912261772025 20
India Import Duty Structure
Source: Government of India
B D % C
D (CD) %
C
CD %
A D
(AD) %
A D %
D 7.5 12 3 4 25.852
D 7.5 12 3 4 25.852
D 7.5 12 3 4 25.852
7.5 12 3 4 25.852
C 7.5 12 3 4 25.852
7.5 12 3 4 25.852
7.5 12 3 4 25.852
C 7.5 12 3 4 25.852
7.5 12 3 4 25.852
DA
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C D: 344, A . , . . , (), 400018, DA : @. : +912261772000 (25 ) : +912261772025 21
Crude Price Movement V/s INR performance against the USD
Source: PolymerUpdate Market Intelligence, RBI currency reference rates
The graph shows the movement of Dated Brent, Nymex crude and the INR performance against the USD. The Y-axis on the left is USD/barrel rate while
the Y-axis on the right represents the conversion rate.
INR value against the USD in the beginning of June 2014 = 59.13 per USD
INR value against the USD at the end of June 2014 = 60.19 per USD
% net value change in June 2014 = 1.79% (depreciation)
Dated Brent price in the beginning of June 2014 = 108.83 USD per barrel
Dated Brent price at the end of June 2014 = 112.36 USD per barrel
% net price change in June 2014 = 3.24%
Nymex crude price in the beginning of June 2014 = 102.47 USD per barrel
Nymex crude price at the end of June 2014 = 105.37 USD per barrel
% net price change in June 2014 = 2.83%
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India GDP Growth Projections 2014-15
Data collected from various sources
D
AB 5.5%
C 6.0%
B 5.5%
5.5%
5.4%
B 5.5%
CC 5.3%
CA 5.15.5%
5.45.9%
' 5.5%
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We will be happy to receive any feedback/suggestions on this analysis.
Also, if there are any queries, then please do not hesitate to get in touch with us at [email protected].
Note: The Govt. of India has decided as a policy matter to not disclose the names of the importers/exporters on the ground that revealing such
information would violate commercial confidentiality. These rules are in the nature of subordinate legislation and have the legal force of the Parliament.
Please refer toNotification No. 128/2004-Customs (N.T) Direct Link: http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k4/csnt128-2k4.htm
The content in this report wherever the source is mentioned as the GoI 12th 5 Year Plan on Petrochemicals is owned by the Planning Commission,Government of India and its further distribution is strictly forbidden without permission of the Planning Commission, Government of India.
Disclaimer: This analysis makes use of Import data procured from the Indian Customs and is being made available on an as is basis. We have
attempted to refine the raw database by removing records with sweep/reprocessed/off-grade material shipments and records with non-standard units. We
have undertaken our best efforts in refining the database while formulating our statistics; however, customs data is known to include repetitions which are
difficult to verify independently and may have inadvertently got included in this analysis. The figures have been rounded off during some calculations;
hence some totals/subtotals may not match exactly. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness
or correctness of the information/opinions contained herein. It is advisable that all figures be considered as approximate.
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