Ponnusamy Karthik

Import Export Business Ideas - Ponnusamy Karthik

Top 10 Import Export Business Ideas In India

Import Export Business Ideas

The import Export business can be the best  journey for promising business persons.

Our world is getting more and more interconnected. The opportunities to import and export are becoming great. We can reach various countries and also we can now buy a product from any end of the world. India is a great marketplace for Import-Export Business. India keeps growing steadfast.

We think of Import Export Business Ideas to boost revenue and enjoy continuous profit expansion of a business. In terms of business and finance, the ease of exporting is excellent today. We need to target the best markets in the world to run a successful Import-Export Business. Identify the right products that have high potential in international markets in terms of competitive advantage.

We must know exactly what to export/import and how much to expect.

  • In recent years, the import-export market has been expanding the opportunities and contributing its best to shaping the nation’s growth.
  • The scope is wide and ample opportunities are possible. Consider the Current Market situation to decide the most important business ideas.
  • Import Export business Ideas / knowledge and other information related to them are essential for efficiently running the business.
  • There may be many things (items) one can export/import to generate profit.
  • But we need to choose the best Import Export Business Ideas in which you put less effort and still earn well.
  • Export will bring immense revenue if we plan and do Import Export Business Ideas perfectly and intelligently.
  • In recent years, the boom in the export industry opened the doors of opportunities.
  • We need to think import export business ideas smartly while deciding which business can truly become profitable to carry on and which one suits us.
  • Many factors are to be considered and analyzed before the start.
  • The list will contain investment needed, workforce, shipments, taxes, targeted markets, and liquidity, 
  • Keep all the factors in mind, we have to decide the best business ideas to be followed.  

List of Best Import Export Business Ideas in India

Best Import Export Business Ideas in India Lists:

  • Seafood Import Export Business 
  • Textile – Garments Import Export Business 
  • Leather Import Export Business 
  • Tender Coconut Import Export Business 
  • Medical Import Export Business 
  • Pharmaceuticals Import Export Business 
  • Electronics Import Export Business 
  • Handicrafts Import Export Business

Seafood Import Export Business Ideas

Seafood Import Export Business Ideas - Ponnusamy Karthik

The contribution of foreign exchange from fish exports is great. India has become one of the leading suppliers of quality seafood to over 100 countries across the World. India’s seafood industry had attained an all-time high record of growth of 26.73% in quantity terms and 4.31% in value terms in FY 2022-23 over FY 2021-22. In India Sea food Import Export Business Ideas 

India become,

  • The 3rd largest fish producer
  • Second largest aquaculture producer
  • 4th largest seafood producer in the world.
  • India has class seafood processing plants. They follow quality control regimes compliant with stringent international regulatory requirements.

India is blessed with,

  • a coastline of over 8,118 km
  • 02 million sq. km of EEZ (Exclusive Economic Zone)

India has positioned itself as an all-time high exporter of seafood both in terms of volume and value by exporting 17,35,286 MT of seafood worth Rs. 63,969.14 crore. Volumes are essential for strengthening trade.  

The largest importer of Indian seafood USA is followed by China, the European Union Countries, South East Asia, Japan, and the Middle East Countries.

  • USA –  52 %
  • China – 23.37%

The European Union continued to be the third largest importer of Indian seafood

The major export seafood item from India is frozen shrimp which recorded production of 11.84 lakh tonnes and registered export value of ₹43,135 crore.

USP lies in delivering quality processed seafood in world-class packaging and timely delivering products in any magnitude and in any desired quantity. The sustainability of supplies depends on the ability to deliver premium quality processed seafood to clients at cost-effective pricing. It requires to

  • Maintaining the Product delivery in the packaging of international standards
  • Functionality of Timeliness in product delivery
  • Proper checking of High-quality variety of processed seafood
  • Widening the Large client base across numbers of nations/regions
  • Clarity and Transparency about the deal process.

India has positioned its brand uniquely and strategically in international markets like the USA, China, Europe, Japan, Vietnam, Canada, Southeast Asia, and the Middle East Countries.

Textile –  Garments Import Export Business Ideas

Textile Import Export Business Ideas - Ponnusamy Karthik

The clothes demand will always be there in the world, it is a  universal factor. But the style will keep evolving according to the market trend and the people’s taste. This universal factor is the contributing factor behind the clothes exporting business. (i.e., Textile exporting business).

The textile market is one of the biggest export markets in India. India is always known for its famous traditional prints and designs. Indian garments are always much sought-after  garments in the world. The textile industry generates around 12% of India’s total export earnings. India is one of the largest textile exporting as well as apparel manufacturing countries in the world.

The Indian government has several schemes to boost (propel) the export of Indian textiles.

We export to  Some top countries like the USA, UAE, UK, European Union, Japan, etc.

The valuable reasons are as below

  • Availability of enough raw material & large quantity production of several fibers. (especially cotton).
  • Low manufacturing cost
  • Availability of Low-wage workers.
  • Presence of Well-developed local production houses

We will never fall short of the high demand-supply in the export market. We may get huge orders for our new design pyjama in our export market and it may be a craze for them. It will get us roaring profits.

Leather Import Export Business Ideas

Leather Import Export Business Ideas - Ponnusamy Karthik

  • In recent years, leather Import exports have been seeing an upward trend in India.
  • Indian leather contributes up to 13% of the total production of the world’s leather.
  • Particularly about 10% of the world’s footwear production also comes from India.
  • India became famous for exporting finished leather goods, such as leather handbags, clothing, furniture, footwear, leather garments, wallets, luggage, sachets, journals, and accessories.
  • Indian brands are the torchbearers of self-sustenance with chic and compact design.
  • The demand opens up indefinite opportunities for Indian sellers.
  • The leather products are manufactured in Tamil Nadu, Telangana, West Bengal, Jammu & Kashmir, and leather products are exported in huge quantities from across the country.
  • The major markets for Indian leather products are the US (17.22%), Germany (11.98%), Italy (6.33%) and France (5.94%).
  • Nowadays the leather export sector in India is well known for its consistency in high export earnings. And earning a huge number of profits.

Medical Import Export Business Ideas

Medical Import Export Business Ideas - Ponnusamy Karthik

  • The hospital services market of the Indian healthcare industry is currently valued at $80 billion and accounts for 71% of industry revenues.
  • Both the private sector and the government sector are planning several super-specialty hospital facilities.
  • They are also planning  for the modernization of the existing hospitals.
  • India imports nearly 75 % of its medical devices. U.S. accounts for major exports to India. 
  • India is highly dependent on imports of higher-end products.  That includes cancer diagnostics, medical imaging, Ultrasonic scans and PCR technologies.
  • The need is very high for world-class hospital groups such as Apollo, Fortis, Max, and  Hinduja Group.
  • Overseas organizations are also setting up hospitals in India through Foreign Direct Investment.
  • These world-class hospital groups with high-end infrastructure add $2 billion to the Indian healthcare market.
  • The Indian medical device market is approximately $9 billion,  and it is expected to exceed $14 billion by the end of 2025. 
  • The rising middle-class incomes, Rapid economic growth, and a surge in lifestyle diseases have created a booming medical market.
  • Medical supplies are the most versatile import-export business opportunities in India.

Pharmaceuticals Import Export Business Ideas

Pharmaceuticals Import Export Business Ideas - Ponnusamy Karthik
  • India is a major exporter of pharmaceuticals and enjoys a significant global presence in the world, occupying a 20% share of global supply.
  • The Indian pharma industry has grown steadily at a CAGR of 9.43% in the past nine years.
  • It is expected to grow to US$ 65 billion by 2024 and around US$ 120-130 billion by 2030.
  • With a strong network of more than 10,500 manufacturing facilities and more than 3,000 pharma companies, The Indian pharmaceutical industry is ranked 3rd in the world for producing medicines by volume and ranks 14th by value.
  • There is tremendous scope for scaling up the value of production.
  • India exports drugs and medicines to more than 200 countries across the world including the UK, the USA, Canada, Belgium, South Africa, and Brazil, the European Union, among others.
  • The capacity to produce high volumes and meet stringent standards and norms in key global markets will help India to boost its exports and expand global shares.
  • At the same time the best import export business ideas always enhance the growth of pharmaceutical industry.
  • According to the data from the Pharmaceuticals Export Promotion Council of India  (Pharmexcil), India reached $25.3 billion, roughly Rs 2,08,231 crore, for the financial year 2022-23.

 Coconut Import Export Business Ideas

Tender Coconut Import Export Business Ideas - Ponnusamy Karthik
  • India is the largest coconut-producing country in the world and the State of Tamil Nadu occupies a major share of the coconut cultivation in India.
  • India ranks 3rd position in coconut production. (31.45% of the world’s total production).
  • Around 21,500 million tons of coconuts are produced annually in India.
  • Tamil Nadu cultivates Coconut trees in 4.44 lakh ha of land and occupies the third position in productivity.
  • Coimbatore ranks in the top position in Tamil Nadu and cultivates Coconut trees in 88,467 ha of land.
  • The Pollachi region in Coimbatore is a major hub for the export of coconut in Tamil Nadu.
  • Kerala, Karnataka, and Andhra Pradesh are the other major coconut-production states in India.
  • West Bengal, Orissa, Maharashtra, Gujarat, Assam, and Bihar also contribute a good number of coconut production in India.
  • About 86 countries around the world produce coconut through the cultivation of coconut trees.
  • The demand for young coconuts is high due to their health benefits.
  • The export from India has increased due to the worldwide demand for coconuts.
  • India is the largest exporter of Tender coconut in the world.
  • India exports coconuts to more than 140 countries. 371 Indian exporters exported 3.8K shipments to 653 Buyers around the world.
  • Around 63 major ports in India are used for the import and export of coconuts.

The biggest Coconut importers from India are listed below.

  1. Viet Nam: 40.73%
  2. Bangladesh: 20.16%
  3. United Arab Emirates: 9.08%
  4. Nepal: 6.05%
  5. Saudi Arabia: 4.13%
  6. USA: 2.58%
  7. Cambodia: 2.34%
  8. Qatar: 2.25%

  • The coconut exports of India crossed Rs. 3,236.83 crore (US$ 393 million) mark with an increase of 41% from the previous year.
  • The future of the coconut industry
  • The coconut export is growing at a CAGR of 9.98%. The estimated  USD 4.51 billion in 2023 is expected to reach USD 7.26 billion by 2028.
  • Vietnam is the major importer. These 5 major importers account for 66% of the total exports from India.
  • The technological advances have helped India to make a niche market for itself in the international coconut market.
  • Organic practices like composting and mulching increase tropical yields as well as increase the export in India.
  • International trade demands quality certifications and strict adherence to standards.
  • The coconut import export business ideas can be utilized for the maximum profits..

Electronics Import Export Business Ideas

Electronics Import Export Business Ideas - Ponnusamy Karthik
  • Electronics import export business ideas always garner the best for the business people.
  • Electronics import devices gains acceptance every year in the Indian market.
  • The high feature of low prices creates the demand for such products in the market.
  • IT hardware (laptops, tablets), Mobile phones, consumer electronics (TV and audio), auto electronics, and industrial electronics are key export products in India’s electronics industry exports sector.
  • The electronics exports are expected to increase to US$ 120 billion by 2026.
  • Electronics export in India grew 56% in the April-June period, reaching Rs 57,220.24 crore, as against Rs 36,533.18 crore in the corresponding period of last year.
  • Electronics items became the fastest item amongst the top 30 exported items.
  • Exports of electronic goods from India in 2022-23 is  $23.57 billion. 
  • Exports of mobile phones touched Rs90,000 crore in 2022-23.
  • Mobile phones in the electronics sector have shown tremendous growth following the introduction of the production-linked incentive (PLI) scheme in 2020.
  • Mobile phones have contributed 52 % to the total electronics exports from India in the first quarter of the current fiscal year (amounting to Rs 30,000 crore). 
  • It marks a significant increase from the 38% contribution seen a year ago.
  • Apple’s iPhones constitute 35% of all electronics exports and 66% of total mobile exports.
  • UAE, USA, China, Germany, and Netherlands are the top 5 destinations for Indian electronic goods exports.
  • South Asia, Africa, and the Middle East are key importing markets for mobile phone exports for India.
  • USA, UK, and EU are the top three export destinations of India for the IT-ITeS services of India.
  • India exports these services to Asia Pacific regions, Latin America, and Middle East Asia.
  • India hopes new opportunities emerge to expand services to continental Europe, Japan, China, and Africa.
  • The availability of skilled or trainable labor force, the availability of stable and assured power supply,  especially women with high productivity, increasing supply chain to support the production  and good logistics connectivity of the airport are also other reasons for the success of the electronics sector.

Handicrafts Import Export Business Ideas

Handicrafts Import Export Business Ideas - Ponnusamy Karthik
  • Indian-made handicraft items are highly sought-after worldwide due to their uniqueness, creativity, artistic beauty, individuality, quirky and superior quality.
  • The Indian-made handicraft items represent the traditional, cultural, and artistic values of a place or our nation.
  • The amazing craftsmanship of Indian-made Handicraft items immediately grabs the attention of the global market (as well as the domestic market also).
  • Regional artisans of about 7 million people work year-round to prepare handicraft items for export purposes.
  • About 67,000 business owners are involved in this export business.

The Top Most Handicraft Export Items for Export from India

  • Textiles – Handmade embroidered Sarees, block and screen painting, kalamkari, hand-printed textiles & scarves, batik, bandhani, and Handmade woolen.
  • Cloth and floor paintings.
  • Jewellery – Imitation jewelry, Precious gems jewelry.
  • Metal artifacts, Metalware.
  • Indian Home Decoratives.
  • Ivory,
  • Precious stones and Stone art.
  • Handmade paper.
  • Agarbatties & attars, zari & zari goods
  • Furniture, home textiles, and homeware.
  • other handmade products.

The famous handicraft items manufacturing areas in India

  • Jodhpur in Rajasthan – wrought iron items, seashells and  Wooden items. ,
  • 2. Moradabad in Uttar Pradesh – imitation jewelry and art metal wares
  • 3. Narsapur in Andhra Pradesh – lace and leather goods
  • 4. Saharanpur in Uttar Pradesh – wooden and wrought iron handicrafts
  • 5. Thrissur in Kerala  – ivory, precious stones, and stone art

The top 3 importers of Indian handicrafts are,

  • United States with 296,408 shipments
  • United Kingdom with 55,020
  • Germany with 54,947 shipments.

The other major handicraft export destinations for India are Australia, Canada, France,  LAC, Italy, Japan, the Netherlands, the UAE, and Switzerland.

Conclusion

  • Looking at the present scenario worldwide, there is a huge scope for import and export as countries have given access to global trade (There is a tremendous scope for the best import export business ideas).
  • With the right products and right practices, anyone can start a fairly profitable import-export business
  • Many newly started export businesses have attained instant success.
  • The recent export business successes are attracting new entrepreneurs.
  • Import–Export business Ideas must be done with due care. It is an easy way of making money in overseas markets.

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