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India’s Top 10 Exports and Who Buys Them

India has come up as a large exporting nation in recent decades, which has facilitated the Indian economy to new heights. The number of commodities exported from India has significantly improved, and the market is now wider than ever. Many foreign markets are heavily dependent on India for importing certain goods to their countries. India's top export products contain petroleum products, pharmaceuticals, motor cars, jewellery, sugarcane, etc.

In the first seven months of 2021-2022, India has made a record improvement in the number of exports. From April – to September 2021, India has exported goods worth more than $197 billion, and the monthly export amount has been above the $30 billion mark. Hence, the Export business in India is favourably profitable. Are you planning to commence your own export business? This blog will surely assist you in knowing which are profitable products to export from India to earn massive profits in foreign currency. Identify the list of the best products to export from India below:

What is Export Business?

The word ‘export’ is derived from the conceptual purpose as to ship goods and services out of the port of a country. The seller of such goods and services is directed as an “exporter” who is based in the country of export whereas the overseas-based buyer is directed as an “importer”. 

In simple words, an export business represents a good or service that is produced in one country and then sold to and consumed in another country. In Global Trade, “export” refers to selling goods and services produced in the home country to the markets in foreign countries.

 Top Global Countries to which Indian products are exported

 Below are the leading global countries to which Indian exports are exported-

  • USA

  • China

  • United Arab Emirates, UAE

  • Hong Kong

  • Bangladesh

  • Singapore

  • Nepal

  • United Kingdom

  • Netherlands

Top 10 High Demand Products for Export in India

Here are the 10 entities most exported from India

Petroleum products

The petroleum products exported from India contain gasoline, petrol, diesel, jet fuel, liquid petroleum gas, lubricants, etc. India is regarded among the leading five exporters of refined petroleum products, which specifically cater to the markets in countries like the UAE, China, the US, Singapore, and the Netherlands. India is the second-largest exporter and refiner in Asia after China.

Mechanical Equipment

India is the foremost manufacturer of mechanical appliances. Indian manufactured tractor–driven harvesters and self-propelled harvesters are utilised in numerous countries in South America, Asia, the Middle East, and Africa. Experts even expect further expansion of the demand in the upcoming time.

Jewellery

The term 'jewellery' here contains gold, gemstones and similar materials. India consumes around 20 percent of the global gold production and 75 percent of that amount goes into making jewellery. The jewellery sector is also backed by banks and government policies so that the industry does not fall drastically. Around 30 per cent of Indian jewellery gets exported to the United States alone. Other such countries contain Hong Kong, UAE, Singapore and Belgium. Read more

Drugs and pharmaceuticals

India is one of the biggest bases for raw materials and skilled labour. The country is also the third-largest pharmaceutical market in terms of volume. Indian products comprise almost 20% of the global genetic drug exports and supply 40% of the genetic formulations utilized in the United States of America. Additionally, India is also the largest vaccine producer.

 Electronics 

When it comes to manufacturing electronic equipment, India is still noticed as an importing country. However, the export part of this sector thrives silently yet primarily. India has the third-largest pool of electronic scientists and engineers and the domestic demand for electronic goods drives the industry to grow faster and stronger, making export all the more important.

Dairy Products

Dairy Products

India reaps great profit by exporting dairy-based products to multiple countries. Milk from Indicine cattle is favourably sought after in Western markets. The cost of products derived from these kinds of milk is readily sold at around four times the price of local dairy products. 

Also, some major Indian dairy exports contain ghee, cheese, and curd. Dairy products are a very lucrative export proposition. However, it would be best if you kept a keen eye on quality controls, packaging, and refrigeration because of the shorter shelf life of these products.

Cereals

India is one of the greatest exporters of cereals and the second largest producer of rice. Being an agriculture-driven country, India depends mainly on its production of cereals and so do the importer countries such as Iran, Saudi Arabia, Indonesia, UAE, and Bangladesh.

Textile Products

India is known as the second-largest producer of cotton and exports 23% of the world’s cotton. It also has an enormous area for cotton cultivation. As the Indian exile industry primarily depends on cotton, it accounts for about 40% of India’s total textile export in June 2021.

Organic Chemicals

Whenever we talk about India's most exported product, organic chemicals are always a vital point of discussion. The market is pretty wide, and a vaster market always offers great opportunities to importers and exporters. Today, India exports agrochemicals, organic, and inorganic chemicals to multiple countries in South America, Africa, Europe, and Asia.

Readymade garments

India’s RMG industry contains garments made from natural fibres like cotton and wool combustion, as well as synthetic and man-made fibres. Cotton is the major raw material for the production of garments in India. India is the fifth largest exporter of RMG and it takes the market of Germany, the UK, UAE, and the US.

Risks involved in Import Business

If you are in the business of import-export, then you must know about the – most common threats concerned in importing and the measures to minimise them. Commencing and doing a business is a rollercoaster ride and hence you must be aware of the risks concerned in it and methods to tackle those potential threats to your business.

The most common hazard involved in the import-export business is the lack of proper knowledge and guidance. Import Export business is a complicated business that concerns risks in transportation, documentation mistakes, government policies, quality, political, commercial, delivery time, exchange rate distinctions, and natural calamity, amongst others.

Obtain the Best Import-Export Data for Business

Import-export data is the consolidated data gathered from shipping agencies and customs departments from ports around the world. This data includes information regarding - The product – description, quantity, price, and HS or Harmonised Code of the product. The name and contact details of the importer. This data also allows companies to determine their competitor's export figures, knowledge of profitable products, international pricing of raw materials that they procure from other countries, and the inventory status of the material. 

Seair Exim Solutions is one of the ultimate import export data provider companies in India. It offers 100% genuine, trusted, and reliable custom shipment data for more than 100 countries such as India, the USA, Russia, Mexico, Indonesia, Vietnam, etc. If you are looking for authorised Global Trade Data. Seair Exim Solutions can be your most satisfactory service provider. Reach info@seair.co.in today and easily get well-organised data.

  • Seair Exim
  • 01-Sep-2022

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