The past few decades have witnessed a steady increase in the Indian exporting sector. With export products such as ready-made garments, refined petroleum, and even valuable items like gems and jewellery, India is one of the leading exporting countries that fulfil the demand of many other countries.
India has a huge agricultural and manufacturing sector, and for the development of the industries in this sector, growth in exports is inevitable. Indian exports topped $538 billion in 2017 alone, an all-time high for India. And even though the Covid wave wasn’t exactly favourable for the Indian export industry, the growth of the Indian export sector is rising again. India’s exports, including both merchandise and services, are estimated to be at $499.46 billion from April to November 2023.
Being a top manufacturer of many goods and resources, let’s explore some of the most exported products from India and what are the most convenient methods to start shipping them.
With several recipient markets around the globe, including Italy, China, Korea and Hong Kong, the demand for Indian leather has only been growing over the years.
Indian leather manufactures items such as purses, coats, cricket balls, shoes, jackets and more. In many cases, rather than providing the raw material, i.e. leather, items are manufactured in India only and directly exported to other countries.
Many luxury brands worldwide import their leather from India only. Primarily, markets in the US and Europe have been the biggest markets that demand Indian leather the most.
As one of the high-demand products for export, petroleum is the key item for the fuel and energy requirements of the world. Ranked second globally, India’s petroleum product exports play a pivotal role in driving international economic growth. With a diverse portfolio ranging from refined petroleum to petrochemicals, India has solidified its position as a trusted energy partner for various countries.
Petroleum products like Petrol, diesel, gasoline, jet fuel and LPG are very demanding in countries like the US, China and the Netherlands. Because of this increasing demand, India’s export of these products is also significantly increasing.
Due to its natural wealth in gold, diamonds, pearls, gemstones, and other forms of jewellery, India is the world’s fifth-largest exporter of such materials. India owns almost 6% of shares in global exports.
In April 2024, the total value of Gems & Jewellery exports was $2074.85 million (Rs. 17307.280 crores). In the list of products exported from India, cut and polished diamonds, rough diamonds, lab-grown diamonds, plain and studded gold jewellery, gems and stones are the most exported items. The main places in India where gold and diamonds are extracted are Gujarat, Andhra Pradesh, and Madhya Pradesh.
The global market has been captivated by India’s jewellery exports, with countries like the United States, Hong Kong, UAE, Switzerland, and the United Kingdom being key destinations for these stunning pieces.
India is a rich country in terms of iron and steel. Due to this, India is among the top exporters of machinery and its parts and most importantly, automobiles.
India aims to double its auto industry size to INR 15 Lakh Cr by the end of 2024. Among the various kinds of machinery exported from India in the financial year 2023, electric machinery and equipment had the highest value, followed by industrial machinery for dairy, food processing and textiles valued at over eight billion USD.
India has sufficient raw materials and skilled workers to make high-quality machinery and car parts that are in demand globally. Big buyers include China, the USA and the UAE. India is working hard to improve its manufacturing skills and infrastructure through programs like Make in India and Skill India.
Along with the automobile and machinery, mobiles, laptops, PCs, and other electronic devices are constantly in high demand, and India has been meeting this need for many nations for quite some time. Until February 2024, the US and UAE emerged as the top markets for India’s electronic goods exports. The US alone imported nearly 35% of India’s electronic goods amounting to approximately $8.7 billion. Following closely, the UAE accounted for approximately $3 billion in imports, constituting about 12% of India’s electronic goods exports. The Netherlands and the UK each held about a 5% share in India’s electronic goods exports during this period. This highlights the significance of India’s electronic goods and the importance of these markets in driving India’s export growth in the electronics sector.
With the COVID wave, the Indian pharmaceutical industry surprisingly kept an increased exporting rate. And because of that, the Indian pharmaceutical industry is 3rd largest by volume and 14th largest by value.
Some of the most exported products include active ingredients, biopharmaceuticals, and finished drugs. India was also an active exporter of the covid vaccines in 2020-21.
Because of the growth projection of the pharmaceutical industry, India is expected to increase its exports even more than right now.
In fiscal year 2023, India’s exports of both organic and inorganic chemicals were valued at over 2.4 trillion INR. This marked a significant increase in value compared to the previous fiscal year, with a rise of nearly 250 billion INR.
Organic chemicals, which contain carbon in their molecular structure, serve a wide range of purposes. Some are vital in pharmaceutical and medical applications, while others play key roles in plastic production. Examples of organic chemicals exported by India include acetic acid, acetone, phenol, formaldehyde, and citric acid.
On the other hand, inorganic chemicals lack carbon or its derivatives as principal elements. They find applications in industries such as paint, automotive, paper, and cleaning solutions. Some of the inorganic chemicals exported by India include soda ash, liquid chlorine, caustic soda, red phosphorus, and calcium carbide.
Key customers for Indian chemicals include the US, China, Brazil, Germany, and the UAE, highlighting the global demand for India’s chemical exports. This growth in exports underscores India’s competitiveness and strength in the chemical industry, contributing significantly to the country’s economy.
India primarily is an agricultural state, which is why dairy and agricultural exports in India are popular across the globe. The milk produced by the Indicine cattle is in high demand in many western countries. Things like milk, ghee, and cheese are in high demand internationally, showing how diverse India’s agricultural exports are. People especially love the milk from Indicine cattle because of its high quality and nutritive value.
India has a long history of dairy farming, and it’s great at meeting the needs of global consumers for dairy products. With such a wide range of options and a reputation for top-notch quality, India continues to be a major player in the global dairy industry. This not only helps India’s economy grow but also adds to the variety of foods enjoyed by people around the world.
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