Are you planning to get into Import/Export business in India? If yes, then you must know the most common and profitable products in India which are getting imported and exported on a regular basis. Every entrepreneur starts his business with an expectation of earning profits. So, if you want to become an exporter/importer, you must choose only those products which are very much in demand and hence would earn you huge profit. Following are some of the most commonly exported/imported products in India:
India is an agriculture-driven economy, which makes it rich in almost all the agricultural products. Most of the products are not found in other parts of the world, making India one of the biggest exporters of agricultural products. There are various products which do not require any license but at the same time, there are products which require special government permits. Following are some of the most commonly exported agricultural products in India are Marine Products, Basmati Rice, Meat & Preparations, Non-Basmati Rice, Oil, Meals, Spices, Guargum, Wheat, Other Cereals and Sugar.
After agricultural goods, leather is the most common product which is exported from India. It is one of the most profitable products, traded worldwide. The maximum amount of growth in demand of leather is determined by the fashion industry, mainly for manufacturing bags and footwear. Apart from this, leather is exported for the purpose of being used in furniture, interior design industries and various other industries. Looking at the fact and figures, India employs around2.5 million people in the leather industry, making it the fifth largest exporter of leather all around the world.
Textile industry is considered to be the only industry after agricultural industry which has provided maximum number of employment to people, both skilled and un-skilled. There are a huge number of goods which comes under textile industry. They are:
Man-made fibers: Man-made fibers include manufacturing of clothes with fiber or filament synthetic yarns.
Cotton Industry: Cotton industry is considered to be India’s second most developed sector in the textile industry. This sector has also provided a great amount of employment to labor but its production is seasonal affecting the employment rate.
Jute Sector: Jute sector, which is also known as the golden fiber in India is majorly produced in Assam and West Bengal making India the largest producer of jute in the whole world.
Electronics and Gadgets
Two of the most common products which are imported in India are electronics and gadgets. With the increasing growth and development of technology, the demand of such products is also increasing at a rapid rate which has made India one of the biggest importers of electronics and gadgets like mobile phones, laptops, play stations and other various machines.
With the increasing Westernization, there are just a few differences that have been left between India and the West. Earlier, people did not even think of eating seafood in India, but now many are becoming seafood lovers. The demand of seafood in India is increasing with time but the country does not make enough of it. This has resulted in making India a huge importer of seafood.
3) Live Trees and Plants
India, in the process of urbanization, is avoiding the disastrous factors which are being over looked by people. This is one of the main reasons of making India a huge importer of live trees, plants, roots in order to make a balance between nature and urbanization.
We hope that we are able to make you aware of the most common and most profitable products to export and import in India.