What are the best products to import from India in 2022?
Exports play a valuable role in increasing the profits of a country. Indian exports have increased over the years that have enhanced economic growth to a great extent.
India distributes essential goods and products to other countries, including vehicles, pharmaceuticals, petroleum, jewelry, among others that are the most exported products from India.
India imported US$368 billion worth of goods from around the globe in 2020, up by 3.2% since 2016 but down by -23.2% from 2019 to 2020.
Based on the average exchange rate for 2020 on a Purchasing Power Parity basis, the Indian rupee dropped by -7.3% against the US dollar since 2016 and depreciated by -0.3% from 2019 to 2020. India’s weaker local currency makes India’s imports paid for in stronger US dollars in 2020 relatively more expensive when converted starting from Indian rupees.
The following product groups represent the highest dollar value in India’s import purchases during 2020. Also shown is the percentage share each product category represents in terms of overall imports into India.
- Mineral fuels including oil: US$104.4 billion (28.4% of total imports)
- Electrical machinery, equipment: $42.9 billion (11.7%)
- Gems, precious metals: $41 billion (11.2%)
- Machinery including computers: $35.2 billion (9.6%)
- Organic chemicals: $18.2 billion (4.9%)
- Plastics, plastic articles: $12 billion (3.3%)
- Animal/vegetable fats, oils, waxes: $10.6 billion (2.9%)
- Optical, technical, medical apparatus: $8.2 billion (2.2%)
- Iron, steel: $7.6 billion (2.1%)
- Fertilizers: $7.2 billion (2%)
Cereals
Cereals are one of the best products to export from India to countries like Iraq, Saudi Arabia, Iran, and UAE.
These countries import rice in huge quantities. The government offers highly competitive prices for the most exported products in India to importing nations to increase rice export from India.
Pharmaceutical Products
Indian Pharmaceutical products rank 10th among the value of global products. India is a major exporter of western countries including the United States.
Textile goods
Textile products have gained a drastic performance in export business. US comes at 6th position in this business include Saddlery goods made of textile, good stable blankets, rain sheet.
Petroleum Products
Petroleum products are ranked among the top products for export from India. Although exporting petroleum products needs huge investment and hard work, these have a huge demand in small developing nations like Nepal, Myanmar, Bangladesh, Bhutan, etc.
India top export products include semi-products made of petroleum such as charcoal, coal, wax, coke, and many others that have a huge demand and good margin returns.
Traditional Handicrafts
Indian handicrafts and traditional products are popular across the globe. These products are available at cheaper rates when converted into Indian rupees. This makes exporting traditional handicraft the best product for export from India. Besides, it has a great demand in foreign countries. Markets like Europe and western countries makes perfect location where they are sold in fare as well as online. This industry requires very less investment but only a good network with local artisans thereby making it a huge margin for profits sold at higher rates in other countries.
Spices
A variety of spices has been exported to United States including assorted spices, processes spices, white pepper, coriander seeds, coriander powder, mustard seeds, fennel seeds, other powder of other spices like MDH masala, Fenugreek leaves(MDH kasuri methi).
Machinery
Different machinery parts are exported from India which majorly includes the agricultural machinery parts, textile twister machinery spare parts, cooler parts for cement machinery, compressor machinery parts (like for spring, valve center bolt).
Dairy Products
India has a huge profit in exporting dairy products. The milk of Bos indicus cow breed is in huge demand in the United States and other countries.
Dairy products made of Bos indicus cow is sold four times the rate offered for products of local cows. Products like cheese, ghee, and curd add among the most exported products from India that brings on huge returns.
Need help Importing Products ?
Albatross Shipping LTD UK can provide verified suppliers in India. We can cross verify products in India and help you importing from India to United Kingdom. If you are already existing importer from India then contact us to get verified source in India to gain competitive advantages for your business.
