Exports in India is about one third of its potential according to a recent report by the World Bank.
The Government too is promoting exports to boost the trade and GDP growth in India.
India has many products that already has massive demand globally.
By 2035, the government has set the target of $10 trillion trade which is a Golden opportunity for Exporters in India.
India is the 17th largest economy in the world, and yet the exporters, are not taking advantage of the Exports market readily available for them.
Are you planning to be a successful Exporter?
Below we are sharing a list of high income Exportable products.
- Gems and Jewelry: Indian gems and jewelry are the most profitable exportable products in India after petroleum products.
Handcrafted jewelry from India is Imported by United States of America and European countries also.
- Pharmaceuticals: Pharmaceutical industry is already established in India. Pharma products specially generic medicines is a very profitable option for export.
- Textiles: Textiles industry is already booming and there is huge demand for Indian hand woven and machine made textiles internationally.
Traders who are planning to start exporting can consider textiles. It is non-perishable and has demand across the globe.
- Regional Handicrafts: Handicraft products exported from India can be considered a niche product to export. These products have more demand in higher segment and so fetch higher returns.
India being a diverse country, the scope of regional handicraft products to export is very wide.
- Ceramic: Ceramic industry creates large scale market globally. India is one of the leading exporters of ceramic products.
Ceramic products can be exported by both new exporters and old exporters.
India is one of the most prominent players in the global landscape.
Across the globe Indian products be it agricultural products, pharma products or handicrafts is imported from U.S, European countries and in U.A.E.
According to Federation of India Export Organisation India’s exports are expected to reach US$ 750 billion.
Countries like China, U.S and United Arab Emirates are the top importers of products from India.
Government of India has taken many initiatives to boost exports, like recently India and Malaysia signed a treaty. As per this treaty Malaysia will only buy rice from India.
Rice exporters can avail maximum benefit of this treaty.
Dairy products are exported from India. India has the world’s biggest dairy market.
India exported around 15000 metric tonnes of non-fat dairy milk.
Bangladesh, Pakistan, United Arab Emirates and Nepal are top four countries importing dairy products.
Keeping up with global trends
In the fiscal year 2018-19 as per the Export-Import Bank (EXIM) reports that exports to North American and European countries have increased.
The exports to Asian countries has decreased as per the report.
India’s share of exports to ASEAN, South Asia and North East Asia has increased in the year 2018-2019.
The government has taken many initiatives to ease the process of exports to specifically these countries.
Thus Indian Exporters should make sure to avail maximum benefits of these treaties.
Benefits of Exporting Internationally
When a country’s exports exceed its imports it is not only beneficial to the traders individually but also to the country’s GDP.
The scope of trade increases when a trader exports globally.
When a country depends on domestic market for exports, any fluctuations in the economy affects trade severely. Whereas if a trader is exporting his products globally he is immune to negative impact of fluctuations.
Grab the opportunity
Indian exporters should grab the opportunity, presented by U.S-China trade war.
U.S has imposed heavy import duties on products imported from China, which creates a vacuum that can be filled by Indian exports.
Summary of products most exported in the year 2018-19
Top Ten Products that accounted for 46% of India’s total exports are:
Petroleum products, precious stone, drug formulations and biological, gold and other precious metal jewelry, iron and steel and as well as organic chemicals.
Other Products that were exported this year
Automobile, Pharmaceuticals, transport equipment, machinery and ready made garments are other major exports that took place in the year 2018-19.
Exports can be considered the biggest source of upside potential for growth. India’s dream to become a developed country can be fulfilled by boosting exports.
