India, a nation with many different cultures, a long history, and lively traditions, is a major force in the world economy. Export-Import Business is essential to the nation’s economic development and the establishment of its position on the global stage. India’s main exports, which range from services in cutting-edge information technology to textiles to Agriculture that have graced the world for centuries, show its broad talents and entrepreneurship. We may Learn Export-Import Business to better understand how this sector operates and help India’s economy expand.
India exports goods worth $422 billion in 2021–2022 and $447 billion in 2022–2023, respectively.
The import of services was $ 254 billion in 2021–2022 and rose to $322 billion in 2022–2023.
India’s total import for the years 2021–2022 was $ 676 US billion and $ 770 US billion, in 2022-2023.
Top countries India Export To:
India’s main import partners include The USA, UAE, CHINA, SAUDI ARABIA, INDONESIA, SINGAPORE and other countries
|India Export to Countries||Value In Cr||Year|
|U S A||630,152||2022- 23|
Harmonized System of Nomenclature ( For Export )
India’s foreign trade numbers are big and they are growing. However, it is essential to understand which commodities or product categories are doing well. So let’s look at India’s HSN Code wise export numbers –
|No||HSN Code||Top Products||Value||Top Countries|
|1||01,02,03,04,05||Live Animals, Edible Meat, Fish And Crustaceans, Dairy Produce,||88,094 Cr||MALAYSIA UAE USA|
|2||06,07,08,09,10,11,12, 13,14||Live Trees And Other Plants, Edible Vegetables, Edible Fruit And Nuts, Coffee, Tea, Oil Seeds And Oleaginous Fruits||203,316 Cr||USA UAE SAUDI ARABIA|
|3||15||Animal, Vegetable Or Microbial Fats And Oils And Their Cleavage Products; Prepared Edible Fats; Animal Or Vegetable Waxes||16,581 Cr||CHINA NETHERLAND USA|
|4||16,17,18,19,20,21,22,23,24||Sugars, Cocoa, Preparations Of Meat, Of Fish, Preparations Of Vegetables, Fruit, Nuts, Preparations Of Cereals, Flour, Starch Or Milk, Beverages, Spirits And Vinegar, Tobacco||114,869 Cr||USA SUDAN INDONESIA UAE|
|5||25,26,27||Salt, Sulphur, Earths And Stone, Plastering Materials, Ores, Slag And Ash, Mineral Fuels, Mineral Oils||857,639 Cr||CHINA BANGLADESH NETHERLAND|
|6||28,29,30,31,32,33,34,35,36, 37,38||Inorganic Chemicals, Organic Chemicals, Pharmaceutical Products, Fertilisers, Essential Oils, Photographic Or Cinematographic Goods, Pyrotechnic Products, Perfumery, Cosmetic Or Toilet Preparations||480,515 Cr||UAE USA NEPAL CHINA|
|7||39,40||Plastics, Rubber||99,113 Cr||USA, GERMANY UAE|
|8||41,42,43||Raw Hides And Skins, Leather, Saddlery And Harness, Handbags, Furskins||24,677 Cr||ITALY USA GERMANY|
|9||44,45,46||Wood And Articles Of Wood, Wood Charcoal, Cork And Articles Of Cork, Manufactures Of Straw, Basketware And Wickerwork.||5,668 Cr||USA UAE UK|
|10||47,48,49||Pulp Of Wood, Paper And Paperboard, Paper Pulp, Printed Books, Products Of The Printing Industry||26,776 Cr||CHINA UAE USA|
|11||50,51,52,53,54,55,56,57,58, 59,60, 61,62,63||Silk, Wool, Fine, Animal Hair, Vegetable Textile Fibres, Man-Made Textile Materials, Carpets, Tufted Textile Fabrics.||286,089 Cr||UAE ITALY BANGLADESH TURKEY USA|
|12||64,65,66,67||Footwear, Gaiters, Headgear, Umbrellas, Walking-Sticks, Prepared Feathers, Artificial Flowers||28,612 Cr||USA PHILIPPINES FRANCE|
|13||68,69,70||Articles Of Stone, Plaster, Cement, Asbestos, Mica Or Similar Materials, Ceramic Products, Glass And Glassware||46,340 Cr||USA UAE|
|14||71||Natural Or Cultured Pearls, Precious Or Semi-Precious Stones, Precious Metals, Metals Clad With Precious Metal And Articles Thereof, Imitation Jewellery||305,758 Cr||U S A HONG KONG UAE|
|15||72,73,74,75,76,77,78,79,80, 81,82, 83||Iron And Steel, Copper, Nickel, Aluminium, Lead, Zinc, Tin, Tools, Implements, Cutlery, Spoons And Forks.||303,033 Cr||ITALY USA CHINA KOREA UAE|
|16||84,85||Nuclear Reactors, Boilers, Machinery And Mechanical Appliances, Electrical Machinery And Equipment, Television Image And Sound Recorders||451,446 Cr||USA GERMANY UAE|
|17||86,87,88,89||Railway Or Tramway Locomotives, Track Fixtures, Aircraft, Spacecraft, Ships, Boats And Floating.||217,409 Cr||AUSTRALIA USA SINGAPORE|
|18||90,91,92||Optical, Photographic, Cinematographic, Measuring, Checking, Precision, Surgical Instruments, Clocks, Watches, Musical Instruments||39,554 Cr||USA SWITZERLAND GERMANY|
|19||93||Arms And Ammunition||2,550 Cr||ISRAEL U S A MYANMAR|
|20||94,95,96||Furniture, Mattresses, Luminaries And Lighting Fittings, Toys, Games And Sports,||29,606 Cr||USA U K UAE|
|21||97||Pieces And Antiques||1,089 Cr||FRANCE U K U S A|
Potential in Export Business
Looking at the above numbers it is very evident that the Export-Import Business is a scalable business and the sky is the limit for numbers. The government of India has set an export target of $ 1 Trillion. It means India must try to sell more products to more countries. To achieve the target government is improving the infrastructure of seaports and roads, ICDs, and Airports and offering many export promotion schemes like RoDTEP. Also, there are no taxes on exports, you can claim refunds. Hence new entrepreneurs must explore Export-Import Business business instead of competing with other Indians in local businesses.
Nowadays Export-Import Business is Rising In India. India Is Exporting Many Products To Other Countries. India is playing a major role in export. In today’s Market, there is rising demand for Export-Import Business. India is playing the best role in Export-Import Business.