// ROBOTICS AND SMART FACTORIES TERM
Import
Import refers to bringing goods or services into a country from another country for sale or use.
TECHNICAL DEFINITION
Import is the commercial activity of purchasing and bringing goods or services produced in foreign countries into the domestic market, subject to national customs regulations, tariffs, and trade policies.
BACKGROUND
The defence industrial sector of India is strategically important in India. India has one of the world's largest military forces with a strength of over 1.55 million active personnel. The country has the world's largest volunteer military of over 5.1 million personnel. The total defence budget sanctioned for the financial year 2026 is ₹7.86 lakh crore (US$82 billion). India's defence spending is between 1.9% to 2.2% of the country's gross domestic product. The country has the largest annual defence budget behind USA and China. India's defence budget is projected to increase to US$415.9 billion between 2025 and 2029.
READ MORE ON WIKIPEDIASYNONYMS & ALIASES
- International purchase
- inbound goods
- foreign acquisition
- overseas purchase
- inbound trade
USAGE NOTE
Countries import goods to meet domestic demand or acquire resources not available locally.