Of late, the Indian exporting sector has seen a huge rise in business. Products like petroleum, gems, jewellery, and readymade garments are some sectors that performed well in the export sector.
Most exported products from India
Leather is one of the top exported products from India. The demand for Indian leather has been increasing yearly to manufacture products such as coats, cricket balls, purses, etc.
In some cases, the finished product (like coats, purses, etc.) are exported from India instead of only producing the raw materials for the companies. So far, the US and Europe have been the biggest importers of leather from India.
As per the fiscal year 2022, India has approximately exported over 40 million metric tons of petroleum products. After China, India is the biggest supplier of petroleum products among South Asian countries.
The Netherlands, the USA, and China have huge requirements for jet fuel, LPG, Petrol, and diesel.
Gems and Jewelry
Diamonds, pearls, and gemstones are evergreen export businesses for India. India is the fifth largest supplier of gems and jewelry.
Out of the jewelry exports, India is well known for exporting cut and polished diamonds. On the other hand, Gujarat, Madhya Pradesh, and Andhra Pradesh are the primary locations from where gold is being supplied.
UAE, the USA, the UK, and Hong Kong are the major importers of gold and jewelry from India.
In terms of Iron and steel, India is rich in these resources. Because of this reason, India has been one of the top exporters of automobile parts and machinery. The rate of automobile imports has been increasing rapidly since 2021.
The major demand for automobile parts is from the USA, the UAE, and China. In 2022 alone, India exported 5.6 million vehicles. Compared to 2021, India has seen an increase of 36% in automobile exports.
Pharma exports have always been in demand for a long. India exported pharma products worth $24.62 billion in 2022, 18% more than the exports in 2021. During this tenure, India has exported vaccines in large quantities.
Mobiles, computers, laptops, and other electronic equipment have increased demand worldwide, and India has fulfilled this requirement. Between 2020 and 2021, electronic goods exports accounted for $11 billion. Moreover, the Digital India scheme has added more fuel to the exports of electronic equipment.
India is a rich source of agriculture which is why it is also leading in dairy products. Many western countries have a huge requirement for India’s dairy products because the product rates are usually 3x-4x the usual price in India.
India owns 4% of global trade in textile and apparel. Most of the textile exports include readymade garments and cotton textiles. In 2022, India contributed $44 billion worth of textile exports.
Like Ukraine and China, India is known for its abundant maida and wheat production. Countries like Iran, Turkey, Saudi Arabia, etc., have huge requirements for cereals, and India is trying to meet that requirement.
As mentioned earlier, India is one of the largest producers of metals. We have an abundance of metal resources that helps us cater to the machinery needs of western countries. The machinery exports include heavy machines, automobiles, pumps, cars, etc. In 2022, the air conditioning and refrigerator machinery alone accounted for $1,465 million.
India exports Biochemicals to approximately 61 countries in the world. In 2020-2021, India exported $0.61 million worth of biochemicals. Nigeria is one of the top importers of Biochemicals from India. It accounts for 27% of the market share.
Iron and steel
India is the fourth largest steel producer in the world. Companies like Bhilai Iron and Steel Center and Visweswaraya Iron And Steel Limited play a key role in Iron and steel exports from India.
India is the second largest ayurvedic medicine exporter in the world. Most Ayurveda medicines are exported to Nepal, Sri Lanka, and Mauritius. Some of the medicinal plants that India exports are: Ashwagandha, Brahmi, long pepper, barberry, and bael. In the fiscal year 2022, ayurvedic medicine exports accounted for 612 million U.S. dollars.
We hope this article has provided insights into India’s most exported products. Till September 2022, India has exported goods worth 382.31 Billion dollars. Due to India’s massive growth in the import export business, many people have started this business.
To start the export-import business in India, you must register your company and get the import export code to work without any issues.