As the 19th largest exporter globally, India has made incredible strides in the global market with a rich and diverse portfolio of goods and services. In 2017 only, the total export products from India stood at $302 billion. Over the past few years, India has experienced a rapid rise in exports due to various export incentives schemes in India and the National Logistics Policy, which has played a crucial role in boosting Indian exports and enhancing India’s logistics capabilities, making it easier than ever to deliver these products to international markets.
Indian products have a reputation for high quality with affordability, and that’s why we’ve compiled a list of some of the most profitable export products from India.
Top 10 Most Profitable Export Products from India
Petroleum products (Value: 61.2 billion dollars)
India is a major exporter of petroleum products, including refined petroleum, naphtha, and liquefied petroleum gas (LPG). When it comes to the energy market, petroleum products hold a special place as they fuel the world’s insatiable appetite for power. India’s petroleum exports have found eager customers in nations like the United Arab Emirates, Singapore, and China. The demand for these products has remained robust, with countries seeking reliable energy sources to fuel their growth.
Jewellery (Value: 41.2 billion dollars)
India takes pride in its splendid array of jewelry exports, encompassing gold, diamond, silver, and gemstones. The global market is captivated by the unique fusion of traditional and contemporary designs found in India’s intricate necklaces, earrings, bangles, and rings. Countries like the United States, Hong Kong, UAE, Switzerland, and the United Kingdom are among the top destinations for India’s beautiful jewelry exports.
Automobile (Value: 14.5 billion dollars)
India is home to prominent automobile manufacturers such as Tata Motors, Mahindra & Mahindra, and Maruti. With their innovative designs and competitive pricing, Indian automobile exports are steadily gaining momentum in the global market. As a result, they are highly regarded in key export destinations, including South Africa, Latin America, Europe, and the Middle East.
Machinery (Value: 13.6 billion dollars)
Renowned for their durability and cost-effectiveness, Indian machinery exports are in high demand across countries like the United States, UAE, United Kingdom, Germany, and China, making a significant impact on the growth and development of various sectors. With a combined export value of 828.35 USD million, it caters to nearly 207 countries and territories, proving its substantial influence in the global machinery market.
India’s machinery exports showcase an impressive assortment of products, such as agricultural machinery, construction equipment, textile machinery, and industrial machinery.
Bio-chemicals (Value: 12 billion dollars)
Indian bio-chemical manufacturers are continuously exploring new applications and broadening their product range to cater to the diverse needs of different industries. Indian bio-chemicals have garnered global attention, with top export destinations such as the United States, European Union, Japan, and South Korea acknowledging their importance in fostering sustainable development.
Pharmaceuticals (Value: 11.7 billion dollars)
India’s pharmaceutical exports cover an extensive range of products, including generic drugs, active pharmaceutical ingredients (APIs), vaccines, and biosimilars. Often referred to as the “pharmacy of the world,” India is indispensable in supplying affordable and top-quality medicines to the global market.
Cereals (Value: 10.1 billion dollars)
India’s cereal exports comprise various products, including rice, wheat, maize, and millet. Acclaimed for their nutritional value and delectable taste, Indian cereals cater to multiple preferences and dietary needs worldwide. As a result, it experiences high demand in countries such as Saudi Arabia, United Arab Emirates, Iran, Nepal, and Bangladesh, where they are integral to local cuisine and cultural practices.
Iron and steel (Value: 9 billion dollars)
Indian iron and steel exports play a pivotal role in the growth and development of infrastructure and construction industries worldwide. With around 205 countries and territories actively importing iron and steel from India, the country’s exports reach all corners of the globe. Some of the top importers include the European Union, the United States, China, and the Middle East. The combined value of total exports amounts to a staggering $9 billion.
Textile (Value: 9 billion dollars)
The Indian textile industry is deeply rooted in a rich heritage of traditional techniques like weaving, embroidery, and dyeing. By seamlessly melding these age-old practices with innovations, Indian textile exports shine globally. You can start a handicraft business with a remarkable fusion of traditional handloom artistry, expert craftsmanship, and contemporary innovation.
Electronics (Value: 9 billion dollars)
As the global demand for electronics and accessories continues to grow, India’s electronic exports are expected to perform even better in the coming years giving companies a competitive edge in technology and exports. Our electronic goods have captured a substantial market share in countries like the United States, UAE, United Kingdom, Germany, and China.
Conclusion: Start Shipping and Exporting Products Worldwide
the world turns to India for high-quality, affordable, and sustainable products, Indian exporters have a golden opportunity to start an import and export business in India and tap into the global market.
So, it’s time to start shipping and exporting products worldwide, seizing the boundless possibilities that lie ahead. With NimbusPost International shipping services at your side, you can ship to 196+ countries hassle-freely through reliable international courier service partners that understand the ins and outs of the global market.
Let NimbusPost take care of your international shipping needs, allowing you to focus on what you do best – crafting outstanding products. Meanwhile, look at what it takes to export products from India to Australia. This will give you tips on exporting products abroad.
FAQs
How do I find buyers for my exported products?
To find buyers for your exported products, follow these steps:
- Research your target market to identify potential customers and their preferences.
- Attend international trade fairs and exhibitions to showcase your products and network with buyers.
- Collaborate with international trade agents, distributors, or wholesalers to help you find buyers in their local markets.
What are the necessary documents required for exporting products from India?
Export documents checklist for exporting products from India:
-
- Bill of Lading (BL)
- Commercial Invoice cum Packing List
- Shipping Bill or Bill of Export
- Proforma Invoice
- Export Order/Purchase Order
- Certificate of Origin
- Bill of exchange (BE)
- Letter of Credit
- Inspection/Quality check
What is the process for obtaining an Export-Import (EXIM) license in India?
- The first step to obtaining an Export-Import (EXIM) license is to apply for an Import Export Code (IEC). The application for an IEC can be made online on the Directorate General of Foreign Trade (DGFT) website.
- Visit the DGFT website, and you’ll have to fill out an online application form for IEC.
- Once the IEC is obtained, the applicant can apply for an EXIM license.
- The application process for an EXIM license can also be made online on the DGFT website.
- The applicant needs to fill out the application form with details about the product to be exported or imported.
- After applying, the DGFT will process the application and may ask for additional documents or clarification. Once the application is approved, the applicant will receive the EXIM license.
How do I calculate the export duty and taxes on my products?
Here is some general information to calculate the export duty and taxes:
- Determine the customs value of your products
- Check the tariff rates for the destination country
- Calculate the customs duties
- Calculate the local taxes:
- Calculate any additional charges:
- Total up the charges:
What are the packaging and labeling requirements for exported products?
The following information must be present as a label on the goods:
- Shipper’s mark
- Country of origin
- Weight marking (in pounds and kilograms)
- Number of packages and size of cases (in inches and centimeters)
- Handling marks (international pictorial symbols)
- Cautionary markings
- Port of entry
- Labels for hazardous materials (if any)
How do I ensure compliance with international trade regulations?
To ensure compliance with international trade regulations:
- Stay updated with international trade regulations
- Conduct a periodic self-assessment
- Review your standard operating procedures regularly
- Understand the ACE portal
- Minimize your duty fees
What are the modes of transportation available for exporting products from India?
The modes of transportation available for exporting products from India are:
- Sea Freight or Sea Cargo Services
- Air Freight or Air Cargo Services
What are the payment terms for exporting products from India?
The payment terms for exporting products from India are:
- Open Account
- Documentary collection
- Document against payment
- Letter of Credit
- Cash in Advance
- Consignment
How do I handle disputes with buyers or intermediaries during the export process?
To handle disputes with buyers or intermediaries during the export process:
-
- Discuss issues openly and promptly to resolve misunderstandings.
- Check contractual terms to ensure compliance by both parties.
- Seek neutral third-party assistance to facilitate negotiations.
- Resort to arbitration for legally binding decisions, if necessary.
- Pursue legal recourse through appropriate international trade courts as a last resort.
