Page 70 - IILMGSM Journal_Management Perspective
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region, said trade at $25 billion in 2012 was “still claim 40% stake in an important oil block in
far below potential.” In 2010, a consortium led by Venezuela, giving India the capability of producing
Indian state-owned oil companies won a global bid to 400,000 barrels of crude oil per day in its peak time.
Trading with Venezuela: An Opportunity Analysis
Indian Export-Import with Venezuela (in US$ Million)
Year Export Import
2003-04 21.13 N/A
2004-05 71.97 N/A
2005-06 94.41 9.55
2006-07 126.08 748.9
2007-08 142.8 389.91
2008-09 184.51 4,217.05
2009-10 183.96 2,885.76
2010-11 176 5,209.96
2011-12 249.72 6,666.90
2012-13 234.14 14,117.67
Source: EXIM Databank, Ministry of Commerce, Govt. of India
Major Items for Exporting
Pharmaceutical Products (HS Code 30), Cotton (HS Code 52), Electrical Machinery and Equipment and Parts
Thereof; Sound Recorders and Reproducers, Television Image and Sound Recorders (HS Code 85)
Minor Items for Exporting
Iron and Steel (HS Code 72), Miscellaneous Chemical Products (HS Code 38)
Major Items of Importing
Mineral Fuels, Mineral Oils and Products of Their Distillation; Bituminous Substances; Mineral Waxes (HS Code
27)
Minor Items of Importing
Inorganic Chemicals; Organic or Inorganic Compounds of Precious Metals, of Rare-Earth Metals (HS Code 28),
Plastic and Articles Thereof (HS Code 39)
69
far below potential.” In 2010, a consortium led by Venezuela, giving India the capability of producing
Indian state-owned oil companies won a global bid to 400,000 barrels of crude oil per day in its peak time.
Trading with Venezuela: An Opportunity Analysis
Indian Export-Import with Venezuela (in US$ Million)
Year Export Import
2003-04 21.13 N/A
2004-05 71.97 N/A
2005-06 94.41 9.55
2006-07 126.08 748.9
2007-08 142.8 389.91
2008-09 184.51 4,217.05
2009-10 183.96 2,885.76
2010-11 176 5,209.96
2011-12 249.72 6,666.90
2012-13 234.14 14,117.67
Source: EXIM Databank, Ministry of Commerce, Govt. of India
Major Items for Exporting
Pharmaceutical Products (HS Code 30), Cotton (HS Code 52), Electrical Machinery and Equipment and Parts
Thereof; Sound Recorders and Reproducers, Television Image and Sound Recorders (HS Code 85)
Minor Items for Exporting
Iron and Steel (HS Code 72), Miscellaneous Chemical Products (HS Code 38)
Major Items of Importing
Mineral Fuels, Mineral Oils and Products of Their Distillation; Bituminous Substances; Mineral Waxes (HS Code
27)
Minor Items of Importing
Inorganic Chemicals; Organic or Inorganic Compounds of Precious Metals, of Rare-Earth Metals (HS Code 28),
Plastic and Articles Thereof (HS Code 39)
69
