India received foreign cash in the form of ten goods, the majority of which were exported. In Rupee terms, there has been a strong growth rate of 4.71 per cent and 7.28 per cent, respectively. Exports contribute 4% to India’s GDP.
From April to September 2021, India sold items worth over $197 billion, with monthly exports exceeding $30 billion. As a result, the export sector in India is exceptionally profitable. Exporting goods and services has always been a primary priority for Indian enterprises. The market for Indian export items has expanded enormously in recent years since there is a limited supply of Indian goods in the worldwide market. It has evolved into one of the most efficient and profitable enterprises, which is much needed nowadays.
Top 10 Products exported from India
- Petroleum Products
India exports petroleum products like gasoline, petrol, diesel, jet fuel, liquefied petroleum gas, lubricants, and so on. India is among the five top exporters of refined petroleum supplies, primarily to markets in the UAE, China, the United States, Singapore, and the Netherlands. After China, India is Asia’s second-largest exporter and refiner. Although India’s economy primarily relies on oil imports, exports of oil-based products have greatly aided it.
These items include Rudolph diamonds, cut and polished diamonds, gold jewellery, coloured gemstones, pearls, and non-golden jewellery. India is also a significant supplier of synthetic or fake stones. With a 5.8% share of the worldwide market, the country ranks fifth among worldwide exporters of gems and jewellery items. The key markets are Israel, Hong Kong, the United States, the United Arab Emirates, and Belgium.
These goods range from industrial gear and equipment to autos and their components. It offers everything made of iron, steel, and other necessary metals. The Indian engineering board export mark has surpassed $9 billion. This is a significant requirement for traditional markets such as the United States, China, and the United Arab Emirates. In addition, engineering items were India’s leading exports in 2020-21, earning around 75.97 billion dollars. As one of the world’s largest steel manufacturers, India spends heavily on the car industry and its exports.
Organic chemicals are any substances that contain carbon in their molecular structures. They have hundreds of applications, the majority of which are in pharmaceutical and medical uses. They are also employed in the production of plastic by a variety of businesses.
Inorganic chemicals, on the other hand, do not include carbon in their structure and are utilised in manufacturing cleaning solutions in the automobile, paint, and paper sectors. Liquid chlorine, soda ash, red phosphorus, caustic soda, and calcium carbide are some of India’s most frequent inorganic chemicals. The target countries include the United States, Brazil, China, Germany, and the United Arab Emirates.
India is among one of the most prominent sources of raw commodities and skilled labour. In terms of volume, the country also has the third-largest pharmaceutical market. Indian goods account for about 20% of worldwide genetic medication exports and 40% of genetic formulations used in the United States of America.
- Electronic Goods
When it comes to electronic equipment production, India is still viewed as an importer. However, the export component of this business thrives quietly but significantly. India boasts the world’s third-largest reservoir of electronic scientists and engineers, and local demand for electronic goods stimulates the sector to expand quicker and more substantial, emphasising the need for export.
India is the world’s second-largest cotton producer, exporting 23% of the world’s cotton. It also has the most cotton farming land. Because the Indian exile industry is heavily reliant on cotton, it will contribute to almost 40% of India’s entire textile export in June 2021. The textile business is top-rated in Indian marketplaces and is also one of the oldest industries that have been there for centuries. Ready-made clothing is the most famous textile. India is the world’s leading cot cotton, wool, and silk exporter. It also sells synthetic fibres. India is also working on increasing cotton output since it is in great demand in both global and domestic markets. The textile sector is an excellent place to start if you want to take your business global.
- Ready-made Clothes
The RMG sector in India comprises clothes manufactured from natural fibres such as cotton and wool and synthetic and manufactured fibres. Cotton is the chief raw material used in the manufacture of clothing in India. India is the fifth largest RMG exporter, serving the markets of Germany, the United Kingdom, the United Arab Emirates, and the United States. India exports a range of natural and synthetic fibres used in the production of t-shirts, jeans, jackets, suits, and other garments. Furthermore, Indian labels such as Sabyasachi, Allen Solly, and Peter England have become the world’s leading garment firms.
- Marine Products
The principal marine goods exported from India are frozen shrimp and fish. The United States of America is the largest importer of Indian marine goods, followed by Japan and China. To export food items from India, you must first obtain FSSAI and FIEO registration.
- Linoleum and Plastic
India is one of the leading makers and exporters of many sorts of plastic products, such as packages, sanitary, laminates, bags, and medical devices.