To earn is no big deal, but to earn constantly and progressively is! Export Import Trade is one such project. Anyone can start Exporting but to run the business with reaching higher goals is the real deal.
There are many Export Import Consultancies out there that teaches the basics of the trade. But who will let you know of the complicated details of the Exim Industry!
To start an Exporting trade and to export goods is actually a no big move. The big deal is to make sure the product you have selected is such that it sells handsomely in international markets.
If you are fretting over how to Select a Product that not only is a good export product but also sells well in international markets!
Worry not, for your Hero is here! Okay, that was dramatic. There are many strategies to select a perfect product. And once you have the perfect product you strategize marketing.
Well, how to find that one product or a few goods that can make you a millionaire? Here a potential answer to the volatile question.
- Petroleum products:
India first discovered the potential in Oil and Gas industry back in 1889. Ever since India had focused on depending less on Imports of Petroleum and increasing petroleum export.
Here are a few petroleum products that are exported in maximum quantities from India:
- Fuel Oil.
- High Sulphur Gas oil.
- Naphtha.
- Packed Bitumen.
- Food grade Hexane.
- Lube oil base stock.
India ranks 4th in exporting refined petroleum and Indian petroleum products are valued all over the world.
The investment required to extract petroleum and export it is higher but so are the returns!
India’s number 1 competitor is Saudi Arabia, exporting 16.1% of global petroleum need.
- Agriculture products:
India is an economy that is dependent majorly on its agricultural production. India realized the potential of Agri export and introduced the concept of Agri Export Zone (AEZ) in 2001.
This concept was introduced to take a comprehensive look at the produce and product of a particular area. Then to further develop and source the raw materials, their processing and packaging and finally their export.
Indian government understands the importance of being a nation dependent on the Agri economy and constantly makes efforts to increase the produce and export.
India makes export deals of the Agri products to countries like Australia, France, Italy, Singapore, China, Canada, Germany, Sweden, etc.
Major export products are:
- Ginger
- Okra
- Potatoes
- Cabbages
- Tomatoes
- Bananas
- Mangoes
- Guava
These are a few nations and a few agriculture products that India exports. India ranks 10th in the world in exporting agriculture products. India aims to double its production by 2050. If the production is doubled, the exports are bound to increase!
- Pharmaceutical products:
India exports its trusted drugs to many countries of the world. When the whole world was suffering in a grave pandemic, India exported its Medicines for relief.
The total export of Drugs and Pharmaceutical products during April 2020 accounted for 15.87 billion. For the month of November 2020, was US$ 1.99 billion. India excelled even in times of crisis.
India is the world’s largest provider of generic drugs. Drugs made in India have good export value.
The top countries India exports its valued Pharma products are the USA, Russia, UK, South Africa, Nigeria.
Here’s a list of pharma products that made their way to the top exporting products:
- Medicines
- Face masks
- Gloves
- Incubators
- Air ionizers
These are the products that are still in high demand in both local and international markets. India waived off Customs Duty on imports of the life-saving drug Remdesivir.
The Indian government is making continuous efforts to ease of lives of exporters and importers. Indian exporter will reach new heights with the government aiding exports and imports.
- Handicraft products:
Indian handicraft is famous since Vedic times, all around the world. The Indian culture supports handicraft and almost every state has its own variety and speciality.
The majority of Indian Handicraft is sold locally. There are many local sellers who are in contact with the craftsmen, they buy the item and sell it at reasonable rates.
So finding a local craftsman is an easy job. You can ask the craftsman to customize the design accordingly to your international customers and get the job done.
Indian handicraft export accounted for more than 126 Billion USD in the year 2020. These numbers are still lesser than the export made in 2019.
Here’s a list of handicraft items that yield great returns:
- Art metal wares
- Wood ware
- Handmade textiles
- Imitation jewellery
These are the best selling Indian handicraft in the international markets. Indian handicraft is a very profitable business. The beginning or set up of a handicraft business may be difficult and time-consuming but the returns are great.
Indian handicraft is sold at very high prices in international markets and is adorned all over. The European countries have always been importers of Indian handicraft. The USA has recently shown keen interest in Indian handicraft.
Hence India had found ways and means to expand the handicraft export business since ancient times.
- Dairy products:
Since India is Agri based economy, the dairy industry in India has also flourished. India exported dairy products of 51 k MT accounted for 1.34 Cr INR, in the year 2020.
Since the White Revolution in India, dairy has seen better days than most. In the year 2016, the Indian government Merchandise Exports from India Scheme (MEIS) under which the administration had informed merchandise for sends out, which additionally included milk and milk items.
The Indian government saw potential in dairy export and encouraged exporters to consider dairy products as potential product.
India exports a majority of dairy products to countries like UAE, Bhutan, Turkey, Egypt, the USA etc.
Here’s a list of Indian dairy products that find their way to the international markets:
- Fresh butter
- Buttermilk
- Fresh cheese
- Milk and cream in powder
- Skimmed milk powder
- Whole milk
