India is the 19th largest exporter in the world.
It exports a variety of goods and services.
Indian exports are known for their high quality and affordability, making them highly profitable.
If you also wish to start export business in India, you must also know about top India export commodities in 2023 that are mentioned in this article.
List of Top 10 India Export Commodities in 2023
1. Petroleum Products (Value: $61.2 billion)
- India’s Petroleum products exports are highly sought after by countries like the United Arab Emirates, Singapore, and China.
- The demand for reliable energy sources remains strong worldwide.
2. Jewelry (Value: $41.2 billion)
- India’s jewelry exports, including gold, diamonds, silver, and gemstones, are a dazzling mix of traditional and modern designs.
- Top destinations of this export commodity include the United States, Hong Kong, UAE, Switzerland, and the United Kingdom.
3. Automobiles (Value: $14.5 billion)
- India is home to renowned car makers like Tata Motors, Mahindra & Mahindra, and Maruti.
- Their innovative designs and competitive prices make Indian cars increasingly popular globally, especially in South Africa, Latin America, Europe, and the Middle East.
4. Machinery (Value: $13.6 billion)
- Indian machinery is known for durability and cost-effectiveness.
- It’s in high demand in countries like the United States, UAE, United Kingdom, Germany, and China, powering growth across various sectors.
- Indian machinery exports include agricultural, construction, textile, and industrial equipment.
5. Bio-Chemicals (Value: $12 billion)
- Indian bio-chemical manufacturers keep expanding their product range for different industries.
- They’ve gained global recognition, with top export destinations being the United States, European Union, Japan, and South Korea, all contributing to sustainable development.
6. Pharmaceuticals (Value: $11.7 billion)
- India’s pharmaceutical exports cover generics, APIs, vaccines, and biosimilars.
- Known as the “pharmacy of the world,” India supplies affordable, high-quality medicines worldwide.
7. Cereals (Value: $10.1 billion)
- Indian cereals like rice, wheat, maize, and millet are prized for their nutrition and taste.
- They’re in high demand in countries like Saudi Arabia, UAE, Iran, Nepal, and Bangladesh, where they are essential in local cuisine and culture.
8. Iron and Steel (Value: $9 billion)
- Indian iron and steel exports are crucial for global infrastructure and construction.
- They’re imported by over 205 countries and territories worldwide, with top importers including the European Union, the United States, China, and the Middle East.
9. Textiles (Value: $9 billion)
- India’s textile industry blends traditional techniques like weaving and embroidery with innovation.
- It’s a perfect choice for entrepreneurs looking to start a handicraft business, combining heritage with contemporary creativity.
10. Electronics (Value: $9 billion)
- India’s electronics exports are set to soar as global demand grows.
- The electronic goods have a substantial market share in countries like the United States, UAE, United Kingdom, Germany, and China, offering tech-savvy entrepreneurs a competitive edge.
How to grow your export business in India?
You can grow your export business in India through having a proper marketing strategy and getting necessary registration & licenses.
Having RCMC Registrations especially for export businesses boosts your business.
Here is the list of beneficial RCMC Registrations that you can use for growing your export business in India.
1. Spice Board Registration
India’s renowned spices have drawn global attention for centuries. India now plays a vital role in the worldwide spice trade, benefiting many.
To export spices, businesses must obtain Spice Board Registration as per government regulations.
This registration connects spice exporters and importers, identifies reliable suppliers, and fosters collaboration.
It also eliminates the need for an additional certificate and keeps exporters informed about market demands while offering support for business expansion.
2. Engineering EPC Registration
Engineering EPC Registration provides exporters with a wide range of benefits, including global infrastructure access, simplified travel, regular e-magazine updates, real-time alerts, online visibility, government support, exhibition opportunities, market insights, funding assistance, official representation, fast-tracked agency interactions, expert guidance, equipment access, advertising discounts, and an importer-friendly platform.
3. Export Promotion Council for Handicrafts Certificate (EPCH) online registration
The Export Promotion Council for Handicrafts (EPCH) is a non-profit that supports Indian handicraft exports by providing infrastructure, marketing, and incentives.
Artisans can get EPCH Registration, receiving benefits like export expansion guidance, assistance with quality standards, access to international markets, policy advocacy, and workshops for small businesses, all aimed at boosting handicraft exports.
4. Synthetic & Rayon EPC Registration
Exporters can get Synthetic & Rayon EPC Registration online, gaining access to benefits including eligibility for the Foreign Trade Policy (FTP), participation in international events, market expansion support, updates on industry trends, and expert guidance on various aspects of their business.
Other Essential Certification to grow your export business in India
1. ISO Certification
ISO certification in an Indian export business showcases commitment to international standards, enhancing trust among global partners and ensuring product quality and compliance.
2. US FDA Certification
For Indian export businesses, US FDA certification is essential to meet the stringent requirements for exporting food, drugs, and medical products to the United States, ensuring regulatory compliance and market access.
3. DUNS Number Registration
DUNS Number Registration is a critical step for Indian export businesses, enhancing credibility, enabling financial assessment, and opening doors to international opportunities, particularly when engaging in global trade and securing export financing.
Moreover, If you want any other guidance relating to Top India Export Commodities in 2023, please feel free to talk to our business advisors at 8881-069-069.
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