Exports play a significant role in the growth of an economy, and India is no exception. Over the last three years, India has emerged as a leading exporter of consumer goods and products, thereby contributing to the growth of the country’s economy. This article will discuss the basic fundamentals of exports in India and the top 20 consumer goods exported from the Indian market in the last three years.
India’s export fundamentals include various aspects such as policies, procedures, and regulations. The government of India has set up several policies and procedures to regulate exports and make it easier for businesses to export their products. Some of these policies include the Foreign Trade Policy, Export Promotion Councils, and the Directorate General of Foreign Trade.
Foreign Trade Policy
The Foreign Trade Policy lays down the rules and regulations for exports, including the procedures for obtaining licenses and certifications, the regulations for trade with different countries, and the incentives for exporters.
Export Promotion Councils
The Export Promotion Councils help businesses understand the export process and provide them with the necessary support and resources. The councils provide businesses with information on markets, product requirements, and trade regulations and help them find buyers and partners.
Directorate General of Foreign Trade
The Directorate General of Foreign Trade is responsible for implementing Foreign Trade Policy and export regulations. It provides businesses with the necessary certificates and licenses to export their products.
India has emerged as a leading consumer goods and product exporter in the last three years. Some of the top 10 consumer goods exported from the Indian market include:
3. Leather goods
7. Fruits & Vegetables
9 Gems and Jewelry
10. Pharmaceuticals & Chemicals
The textiles and garments industry is one of the largest in India, accounting for a significant share of the country’s exports. The leather goods industry is also growing rapidly, including products such as leather footwear, leather goods, and leather accessories.
The spices industry is another significant contributor to India’s exports, and the country is one of the largest exporters of spices in the world. Tea and coffee are also popular exports from India, and the country is known for its high-quality tea and coffee beans. The fruits and vegetables industry is also growing rapidly, and India is one of the world’s largest exporters of fresh fruits and vegetables.
Handicrafts, gems, jewelry, pharmaceuticals, and chemicals are also significant contributors to India’s exports. The handicraft industry includes paintings, sculptures, ceramics, and other decorative items. The gems and jewelry industry includes diamonds, gold, and silver jewelry. The pharmaceutical industry is also growing rapidly, and India is one of the world’s largest exporters of generic drugs. The chemicals industry includes products such as dyes, pigments, and intermediates.
In conclusion, exports significantly influence India’s economy’s growth. The country has emerged as a leading consumer goods and products exporter in the last three years. The basic fundamentals of exports in India include various policies, procedures, and regulations that help businesses understand the export process and provide them with the necessary support and resources.