The import export business in India is booming, and several Indian states are exporting massive amounts of goods that contribute to the country’s GDP.Import and, in general, export are essential aspects of every country’s economy, and through exporting high-quality and quantity products, any country makes a lot of money.
India is one of the countries that has made billions of dollars by exporting various products and raw materials to other countries.The top exports from Maharashtra, Gujarat, and other Indian states contribute significantly to our economy.
Suppose you want to start an export import business. In that case, you should read this blog article since we’ve discussed exporting products from India to countries like the UAE, Australia, Iran, Saudi Arabia, the United States, the United Kingdom, Malaysia, and many more
The top ten best Indian export products are as follows
1. Petroleum Products
When it comes to Indian exports, petroleum products are at the top of the list. The value of petroleum exports is estimated to be about 61.2 billion dollars.
Companies like Hindustan Petroleum Corporation Limited, Bharat Petroleum, Reliance Petroleum, ONGC, and others have made significant contributions to India’s export sector.Even though India is heavily dependent on oil imports, exporting oil-based products has significantly contributed to the Indian economy.
2. Jewellery
Jewellery is another major Indian export. It is worth about 41.2 billion dollars. Gold, gemstones, and other related materials are all included in the word “jewellery.”India uses around one-fifth of world gold production, with jewellery accounting for 75% of that total.
The jewellery sector benefits from the support of banks and favorable government policies, which helps to increase and expand jewellery export.
India exports about 30% of its jewellery to the United States alone, with Hong Kong, the United Arab Emirates, Singapore, and Belgium rounding out the top five.
3. Automobile
Automobiles are India’s third most important export sector. It has a market valuation of about USD 14.5 billion.Automobiles are one of India’s fastest-growing export sectors, with a year-on-year increase of about 17%. India also invests heavily in the automobile industry and exports as one of the world’s major steel manufacturers.
4. Machinery
Another essential Indian export is machinery. In the market, it is worth about 13.6 billion dollars.The export of heavy machinery from India is growing at a rate of 10.5 percent each year. Cars, pumps, heavy machinery, building construction tools, agricultural equipment, and other heavy machinery are included in this category.
5. Bio-Chemicals
The present market value of bio-chemicals is estimated to be approximately $12 billion.In India, biochemical production is a multibillion-dollar industry.Biochemical manufacturing is a significant contributor to the Indian economy and an essential component of the national economy.
Along with producers and exporters, research institutes have played an important role in biochemical export
6. Pharmaceuticals
Another essential Indian export is pharmaceuticals. In today’s market, pharmaceutical exports are worth about USD 11.7 billion.Pharmaceuticals have overgrown in recent years due to their reliance on research.
Suven Life Sciences Limited, J. B. Chemicals and Pharmaceuticals Limited, Dr. Reddy’s Laboratories, Aurobindo Pharma, Lupin, Ranbaxy, Sun Pharma, Zydus Cadila, Glowchem, and Calyx are some of the most well-known pharmaceutical companies in the globe.
7. Cereals
India is the second-largest producer of rice and one of the major exporters of cereals, with a total value of 10.1 billion dollars. As an agriculturally-based country, India relies heavily on grain production asimporter countries like Iran, Saudi Arabia, Indonesia, the United Arab Emirates, and Bangladesh.
8. Iron and Steel
With a market value of $9 billion, India is the world’s fourth-largest steel manufacturer.Since independence, India has changed from being an importer to an exporter since the country has seen significant industrial growth.
Iron and steel exports from India are led by well-known steel tycoons such as TISCO, IISCO, Bhilai Iron and Steel Centre, and Visweswaraya Iron and Steel Limited.
9. Textile
Indian ethnic clothing and handicraft work are widespread across the world.India’s textile export business is worth $9 billion and is the country’s trump card for export.India values about a third of the global textile and garment market
10. Electronics
Electronics are the last but not least. The market for Indian electronic exports is about 9 billion dollars.Though it appears that India imports electrical equipment, the reality is quite different.On a broad scale, Indian electronic exporting thrives quietly. The third-largest pool of electronic scientists and engineers is found in India.
Furthermore, domestic demand for electronic goods drives the sector to expand quicker and more substantially, emphasizing the need for export.
Final words -
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