Export of India, Author : Ms. Maffi, Advocate,

The role of exports is most valuable and most prominent globally.  Despite the pressing problems such as significant overpopulation, environmental degradation, extensive poverty, and widespread corruption, Indian export is a contributing factor to enhanced economic growth over the years.  As a leading exporter of vehicles, pharmaceuticals, petroleum, jewellery, in 2019, Indian GDP growth slowed to 4.8% (from more than 7% in 2018) to $8.98 trillion as measured by a Purchasing Power Parity (PPP) and India remained the 12^th  biggest export market for U.S. goods in 2019. Thus India’s top 10 exports account for approximately 3/5^th (60.2%) of the overall value of its global shipments.

Indian global shipments in 2019

Since time immemorial, India was known for its precious stones and jewellery.  There exist a colossal tarn of markets with precious stones, gems, and jewellery like gold and other jewellery products.  It has attracted the world to follow this trend making India one of the top markets for exporting local handmade jewellery as well as precious stones.

Cereals are one of the best products to export from India the Gulf.  Indian Pharmaceutical products are ranked 10^th among the value of global products. India is in second place for improving Indian export sales were pharmaceuticals which gained 12.5%.  Homeopathy Medicines are ranked as the most profitable products since it does not have side effects, unlike allopathic medicines.

Indian handicrafts and traditional products are popular across the globe since they are available at cheaper rate. It is fair to say that these traditional products have a great demand in foreign countries. In the European markets, these traditional handicraft products are sold online. This industry seems to require a very less investment but makes a huge margin for profits (being sold at higher rates in other countries).

India has a huge profit in exporting dairy products. Products like cheese, ghee, and curd add among the most exported products from India that brings on huge returns.

Leather has always been in huge demand among export products from India and are exported at high rates worldwide. The main market for leather products includes the UK, US, and Germany, accounting for 36% of total exports. Semi-treated leather and other leather products bring out huge profits.

Textiles are the trump card of India that generates not only high employment but also massive profits through its export to countries like the UK, US, UAE, etc. India is the top exporter of textiles made of jute, and shipments of unknitted and non-crocheted clothing or accessories recorded the third-fastest gain in value due to a 6.4% increase year over year.

Electrical machinery and equipment represents the fastest growing among the top 10 export categories, up 23.6% from 2018 to 2019.

Major Indian export companies

Export documentation and procedures for India are as critical as they are for any other country. Necessary documents include, Bill of lading, Commercial invoice, Packing list, Sales contract, Proforma invoice, AES filing, Customs declaration, Insurance policy and it is vital to understand the regulations covering exports in India especially the ‘export controls’ that are rather self-explanatory.

With this population boom comes the need for new industries, infrastructure and more. India’s most promising sectors include energy, healthcare, aerospace and defense, environmental technology, information and communications/digital technology, safety and security, mining and mineral processing equipment, education services. India has sent a signal that it stands for globalisation, it has and it will continue to…

The author of this article is Ms.Maffi, Advocate, she holds a degree in law from London, a Legum Magister in Legal Practice from the City University, UK and a Legum Magister from United Nations Interregional Crime and Justice Research Institute, Italy