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Whereas the European Union is by far the biggest customer of
Indian products, the erstwhile East European countries have clearly lost
their position as one of India's most important trading partners. Whereas
even into 1990/91, 16.2% of Indian exports were meant for the USSR,
this proportion has radically dwindled in the past few years after the
collapse of the Soviet Union coupled with the economic ruin of the
markets in those parts; it is now no more than 10%. The main problem
here is that the East European market did not demand the same quality
standards as was the case with the markets of the Western industrialized
countries. This situation leads to an impasse regarding possibilities and
scope of adjustment on the part of East Europe to the western European
markets.
Major importing countries for India 1993
Source: Ministry of Commerce, New Delhi
