The ‘Make in India’ campaign, an initiative taken by our honourable Prime Minister, has been inculcated in the young minds very effectively. It has shown great results in Indian markets and has especially helped raise the Export market. ‘Make in India’
has influenced many budding entrepreneurs and small start-ups to choose export business since it has proved to be more profitable.
Exporting goods and services has been on the list of topmost Indian businesses. Over the course of recent years, market involving export products of India has evolved tremendously as there is a great demand for Indian goods in the global market. It has emerged as one of the most productive businesses and considerably lucrative, which is the need of an hour these days.
Here’s the list of the top 8 cherished export products of India which are highly valued and has great demand in the international markets. With the help of this list, you can integrate your export planning and can take a step in the great export business.
Machinery goods: The engineering fragment has a wide margin in the Indian industry. In FY21, the engineering goods export was nearly US$ 76.63 billion 1. Engineering goods include industrial machinery equipment, automobile accessories, goods made up of metals such as iron and steel, and farm machinery tools. Machinery goods are India’s top export in 2020-2021. US, UAE and China remain the top most destination where Indian engineering goods exports are in high demand.
Mineral Fuels: Indian petroleum products is among the eight core industries of India. It is among the top exporters of refined petroleum around the world serving countries like the US, Singapore, Netherlands, UAE, and China. Being the second-largest refiner in Asia, China being the first, India has an exciting export business in petroleum goods. In the year 2021, petroleum exports products from India reached 56.8 MMT 2 . Mineral fuels such as LPG (Liquified Petroleum Gas), petrol, diesel, gasoline, naphtha, jet fuel, and lubricants remains in high demand.
Gems and Precious Stones: The gem and jewellery sector has seen an immense growth and a great potential in export market of India. The government has laid various campaigns in promoting India’s gold and diamond trade with the help of an upgrade technology in the global market. The gem and jewellery sector includes products such as diamond, gold jewellery, and precious gemstones such as ruby, hire, emerald, pearls, amber. Some non-gold jewellery that is also known as artificial jewellery and synthetic stones. They are in great demand and provide a vast opportunity in the trading business. The top potential markets include the US, Hong Kong, UAE, Belgium, and Israel.
Chemical industry: The chemical industry of India serves two types of chemicals in the international market.
Organic chemicals – Organic chemicals are carbon-containing compounds. They are very useful in the medical field and pharmaceuticals. Some organic compounds are also used in the production of plastic. India exports organic chemicals such as citric acid, acetic acid, acetone, phenol, and formaldehyde. Inorganic chemicals – Chemicals that does not have carbon and hydrogen as their parent compound are termed as inorganic chemicals. They are used in the coating, paint, paper industries and automobile industries. They are also used as a catalyst and serve as an ingredient in cleaning solutions. India exports inorganic chemicals such as liquid chlorine, calcium carbide, caustic soda, red phosphorus, and soda
ash.
The top importers of Indian chemicals involve the US, China, Brazil, Germany, and
UAE.
Pharmaceutical Industry: India stands at third position in the world for the production of drugs and medicines by volume. On this note, India is the largest exporter with 50% of global demand for various vaccines. In the year 2021, India’s drugs and pharmaceuticals exports reached at US$ 24.44 billion 3 . Even in the Covid-19 times India supplied innumerous amount of COVID-19 vaccines
1. Electronic goods: India holds on as the second position in the manufacturing of electronic goods such as mobile phones. Over the past few years, the demand for electronic products has witnessed a notable spike. The Government of India has given special priority to electronics hardware manufacturing as it is one of the leading factors in the Make in India campaign and also in the Start-up India programmes.
Agriculture Industry: India is an agricultural country and thus it remains the king in the agricultural export products from India . More than 50% of India’s population is involved in the farming and food processing industry. In the year 2021, the total agricultural and allied products exports stood at US$ 41.25 billion 4 . India exports various food products such as pulses, vegetables, fruits, groundnuts, guar gum, cereals, milled products, meat and dairy products.
Textile Industry: Textile industry is very prominent in Indian markets and is also one of the most ancient industries prevailing for centuries. Ready-made garments are in most demand of all textiles. India is top exporter of cot cotton, wool, and silk. It also exports synthetic fibres. India is also focusing on more cotton production as it is in high demand in global as well as domestic markets. The textile industry provides a great opportunity if you want to take your business to the global level.
Landing your business on an Internation level is what every businessman and entrepreneurs dreams and wishes for. Along with the high competition in global markets, presenting one’s country on that level looks quite appealing. Apart from these top export products from India, it also exports marine products such as seafood including frozen fish and frozen shrimp. Plastic products such as soft luggage items, Polyvinyl chloride (PVC), leather cloth and sheeting and packaging. Cement. Financial and Information Technology Services. To shine in the worldwide business platform, Amazon Global Services makes export from India quite easy and helps in reaching millions of customers on Amazon international marketplaces. It provides a lot of benefits such as-
Hassle-free shipping
Advantage of direct selling
Demand of products all year round
Increase in sales
All you have to proceed is by deciding where you want to export and get the required documents. Then start finding your potential customers and start shipping your products.
Sources
https://www.ibef.org/industry/engineering-india
https://www.ibef.org/industry/oil-gas-india
https://www.ibef.org/industry/pharmaceutical-india
https://www.ibef.org/industry/agriculture-india
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