A country’s exports play a valuable role in the economy. The same applies to India. India’s exports have earned more than 200 billion dollars in the last couple of years. The exports take place to several countries such as the United States, European Union, Asian countries, and so on. If you are planning to start a full-fledged export business in India, you need to know the significant items exported to other parts of the world. Accordingly, you can find your interests and suppliers for the same and start your export business.
But before you step into the venture, let us go through the list of products exported from India to foreign countries such as UAE, Australia, Iran, Saudi Arabia, USA, UK, Malaysia, etc.
Even if people look for synthetic fibres, the Indian Textile industry still has a significant hold over the exports business. It creates employment opportunities for manual and non-manual sectors, no doubt. But one has to note the major components in the textile industry, natural fibres, artificial fibres, jute, khadi, knitted, and other fabrics that can only be witnessed in the Indian market. India contributes to 63 percent of the global jute production. The main countries to which Indian textiles are exported are the US, UK, and UAE.
2. Indian Jewellery Items
After apparel, comes the accessories, and we are all acquainted with the beautiful Indian jewellery items. It consists of all materials of jewellery such as gold, silver, oxidized, diamonds, stones, etc. If you start a business in jewellery of any kind, you will receive support from banks, financial institutions, and the government as well. This is because the jewellery product exports fetch more than 50 billion US dollars every year. The main countries which demand Indian jewellery items are UAE, Singapore, Belgium, Hong Kong, and Israel. Though the demand exists from all over the world, these are the major countries where most of the exports happen.
3. Traditional Handicrafts
The first thing a tourist notices when he visits India is the traditional handicrafts. These are beautiful and extravagant and are the epitome of Indian culture and traditions. Needless to say, Indian handicrafts are popular across the globe and attract considerable sales. When you buy these in India from the local artisans, you can purchase them at cheaper rates and do not have to worry about customs. But while exporting to foreign countries, they are charged at higher rates. They are sold mostly to the United States and European markets, where there is an exclusive demand for Indian craftsmanship. To start this business, you will not require a major amount of capital, but you will need to connect and maintain excellent rapport with the local artisans.
4. Leather Products
One of the highest exports items of India is leather. Leather products are of varying types, such as belts, jackets, shoes, chairs, and so on. They demand higher prices in the worldwide market, but the primary countries where these items are exported are the US, UK, and Germany. More than 36 percent of the global exports are procured by these countries. Similarly, semi-treated products made also are in great demand.
5. Ayurvedic and Homeopathy Medicines
When it is about India, we can never forget our ancient medicinal science – the Ayurveda. They have no side effects like the allopathic medicines, and you can find good remedies for any kind of sickness. Similarly, homeopathy medicines are popular as they have no side effects, are easy to consume, and can even be used to treat all kinds of physical and mental ailments. So, if you are into medicine or are an expert in the said medical sciences, this business could be a high-yielding one. You can even set up an online healthcare practice and export medicines to your customers on a one-to-one basis.
6. Pharmaceutical Products
India is proud of its pharmaceutical industry, and it ranks at the 10th position in the global exports, earning more than USD 13.04 billion. As per the Pharmaceutical Export Data of India, most of the pharmaceutical exports of India are demanded by the United States. Some of the leading industries are Zydus Cadila, J B Chemicals, and Suven Life Sciences Limited. It is a research-based industry that requires capital and manpower. But in the past decades, the pharmaceutical industry in India has undergone revolutionary changes.
7. Organic Chemicals
When it comes to organic chemicals, India tops at the 11th position in the world. Contributing to more than USD 12 billion in these exports, India has been targeting USA and Germany for the exports. There has been considerable research, and mass production of organic chemicals, and the exports to other countries has been increasing as well.
8. Iron and Steel
The iron and steel industry reminds us of reputable companies such as Tata, IISCO, and Bhilai. No doubt, the exports of iron and steel from India to other parts of the world have been increasing by 2 percent every year. Mostly, the exports have been to the neighbouring countries such as Bangladesh and Nepal, but European countries such as Italy have also been interested in buying these products from India.
9. Automobile Industry
On the same lines of iron and steel, the automobile industry has been expanding like ever. There has been a rise of 4 percent in the country’s exports with respect to the automobile sector.
10. Petroleum Products
The small, developing countries have been the major countries where petroleum products are exported by India. These countries include Bangladesh, Myanmar, and others. There is a lot of planning and investment involved in setting up a petroleum-based export business. Even semi-petroleum products such as coal and wax are high in demand by the other countries. The margin returns are excellent for all these products.
11. Meat Products
We will discuss some of the food-related exports in the points below. India has been a remarkable and significant exporter of buffalo and pork meat as there is limited consumption in the country. Moreover, seafoods are also exported to hilly countries where they cannot find good quality and fresh seafood. The investment is low in this business, but the returns are guaranteed and high.
12. Dairy Products
Milk of Indian cows and milk products such as cheese, cottage cheese, and curd are highest in demand, particularly in the United States. The bos indicus cow is the best and is mostly found in India. You can start a packaged milk business and add a few dairy products to the list and export them to other countries. The returns are huge.
Cereals are mostly exported to Middle East countries such as UAE and Iraq, and the exports are in massive quantities since they have a shortage. As rice is grown considerably in India, the government offers subsidies to let farmers export to other countries.
There has been more than a 30 percent rise in ceramic exports, and these are used to prepare pots. Cutlery, glass, and tiles. However, you might need to have a decent amount of capital and seek the requisite documents before starting this business. If you are into pottery or related arts, you will find this business interesting too.
The marble export business in India is remarkable and includes a range of marbles such as granite, sandstone, etc. Though the pandemic affected the marble exports drastically, the export statistics in 2019 were incredible, contributing to USD 2.15 billion. The countries where marble is largely exported are Turkey, Italy, Iran, Spain and Greece, Nepal, UK, and Egypt. If you are located in a place such as Rajasthan and are interested in this business, you should surely invest in the marble export business.
The above 15 products are worth exporting, and the returns are assured.
India exports a wide range of goods to other countries such as agricultural items, services, minerals, textiles, leather products, engineering goods and much more.
India exports products to more than 200 countries across the world. In 2019-20, the share of India’s exports to the world was 12.38%, with the US being the largest export partner.
The major buyers of Indian exports are the US, UAE, China, Saudi Arabia, Hong Kong, and Singapore.
Import duty is determined based on the type of product or commodity imported. Generally, duty rates range between 0 to 20%, while high value items can attract up to 50%.
Exporting products from India gives manufacturers the opportunity to access new markets and expand sales to international customers. Additionally, export earnings provide the country with valuable foreign exchange, which can contribute to economic growth.
Yes, the Indian government offers many incentives to exporters, such as income tax deductions, customs and excise duty exemptions, etc.
Yes, export of certain goods and services is restricted in India. These include items such as arms and ammunition, nuclear reactors and parts, hazardous chemicals, etc.
A number of documents are required for exporting from India, such as an export declaration form, bill of lading, invoice, etc.
Yes, the Indian government has introduced a number of export promotion initiatives such as special export zones, export promotion councils, sector-specific incentives, etc.
Yes, the Export Credit Guarantee Scheme provides financial and credit guarantees to exporters to access competitive export financing. It helps exporters grow their businesses and access new markets.