12 Import-Export Business Ideas To Start In India | Best logistics company UK
By: Kite Freight Services
Tags: India, Covid 19, Export, Business, Import

Why start an import-export business in India?

India is definitely a great place to start an export business for several reasons. The main reason being that many small to medium-size businesses in India can use the import-export model successfully is that they have access to inexpensive labour and materials for international freight forwarder UK.

In addition to that, India has a wide variety of natural resources, which makes it easier to source raw materials for the production sides. It has to be said that India is truly a goldmine for businesses that want to start export companies UK and Import companies UK.

The top 8 products to export from India

Thanks to the low costs of production and access to a literal plethora of natural resources, there are many opportunities for exporting in India, by best logistics company UK including jewellery, PPE, pharmaceuticals, and many more.

Let’s have a look at a few of the top products that can be exported from India.

1. Clothing

Did you know that India has currently one of the largest textiles & apparel industries in the whole world? This is primarily because India has strengths across the entire value chain from fibre, yarn, fabric to apparel, and has competitive manufacturing costs for running shipping services UK. Additionally, one of India’s top exported cash crops is cotton, which is an important raw material for a lot of clothing manufacturing across the country. It currently contributes to about 12% of the country’s export earnings as a fact.

The global demand for clothing is evolving as a reason that people are spending more time at home rather than at work or out in public. Athletic clothing, loungewear, and pyjamas are currently very popular because people want to be comfortable as they work from home to export by sea freight service UK. Comfortable shoes are also a must here.

People are still buying clothes that are meant to wear outside of the house, but once offices, restaurants, bars, clubs, and borders reopen, the demand for this type of clothes will likely slowly rise again as well.

2. Jewelry

Jewellery is a popular product in India since there are so many minerals and gemstones that are used to make this type of product for shipping by UK shipping services. Gold, copper, and garnet are some of the most common precious materials found in India that provides lots of value. India also produces large quantities of diamonds since the land is so rich in coal as an asset. Although diamonds are not rare gemstones, they generally come with a hefty price tag and find it convenient to ship by logistic services UK.

India primarily exports jewellery to the United States, China, Japan, and countries in Europe by top air freight services in UK and top sea freight services UK. As of November 2020, nearly 25% of India’s jewellery and gemstone exports went to the United States alone.

3. Mineral fuels

India is substantially rich in a variety of mineral fuels, including several fossil fuels that are valuable all around the world. Crude oil and natural gas are two of the most valuable Indian resources available. Extracting oil costs millions of dollars to get started, but if you have enough resources to start investing, it is a very lucrative field for shipping to India from UK.

Just as we mentioned earlier, another of India’s most plentiful natural resources is said to be coal. Additionally, the land contains dozens of other mineral fuels as well, including iron ore, manganese ore, mica, and limestone too.

These mineral fuels have a wide variety of uses around the world, which means there are tons of export possibilities for freight forwarding companies in UK.

4. Personal protective equipment (PPE)

The global demand for personal protective equipment (PPE) spiked in the first and second quarter3 this year as COVID-19 quickly spread around the world during the time of the pandemic. Masks and gloves that had previously only been worn by medical professionals became necessary for consumers, as well during these times.

While the demand for masks and gloves has levelled out, there is still so much need for these products since the virus continues to affect people on a large scale without enough control.

This is still a need for alcohol-based hand sanitisers in many countries. There are also opportunities for exporting the finished product or the materials that are used to make them for freight forwarder UK. The main ingredients in effective hand sanitisers are ethanol, isopropanol, and carbomer.

A common complaint that has been prevailing is that the ingredients of hand sanitisers dry out users’ hands. Relatively few manufacturers have only been able to create products that effectively kill harmful germs and bacteria while moisturizing the skin at the same time. If you have the means to create this type of product, you could have great success in exporting for cargo companies UK.

5. Raw ingredients

Sugarcane and rice are the two cash crops in India available in abundance. Thanks to the country’s suitable climate and convenient soil texture. Since both of these crops require a specific climate to grow, they can be harvested and sold as raw ingredients anywhere in the world that doesn’t have a suitable climate for International freight forwarder from UK. Sugar and rice can be sold to manufacturers that create processed foods, or they can be sold to food suppliers, restaurants, and consumers as an ingredient to export.

These items also have a decent shelf life, so transporting them isn’t too difficult as well. The most important thing is to store the raw ingredients in containers that won’t let them come in contact with bugs, rodents, or other creatures while storage. You also won’t want them to be anywhere that they can absorb foul odours for UK freight forwarders.

Sugar and rice do not spoil very easily, but since they will be consumed, you also need to keep them fresh and clean at all instances. Check the federal regulations of where you’re exporting to and make sure that you’re following any mandated guidelines for storage and shipping for freight forwarders from the UK handling Air and Sea.

6. Pharmaceuticals

Pharmaceuticals are the next important export goods ever since we are in the midst of a pandemic and people around the world are growing more unhealthy as a matter of fact. Additional drugs and supplies are very much necessary for treating the symptoms of COVID-19 patients worldwide. Ventilators and other life-sustaining equipment are in high demand too for freight forwarders from UK handling import and export.

Aside from COVID-19, diabetes is also posing a major issue all around the world. Some of this disease is caused by genetic factors, but it is exasperated by unhealthy lifestyles and diets by the users. When people do not manage it as necessary, they need specialized drugs, insulin, and tools for checking their blood sugar levels. The insulin alone demands the need for a variety of syringes, ports, and more to mention.

Diabetes is simply one health issue that is increasing the demand for pharmaceuticals all around the world even for export to India and import from India. Heart disease, cancer, respiratory diseases, and other chronic conditions are on the rise in the areas too.

7. Fish

India has a lengthy coastline and a plethora of inland waterways with equally impressive fish production in almost all coastal mainlands. In fact, India is home to over 400 species of fish and naturally is one of the major fish producers of the world and to export by international freight forwarder UK.

As a fish exporter, you could sell to restaurants, markets, or foreign distributors in different scales.

Exporting perishable items like fish essentially requires a tried and true shipping method that ensures that the product does not spoil before it arrives at its final destination by import companies UK and Export companies UK. You’ll likely want to stick to selling in nearby countries in order to reduce shipping time spent for the commodity.

In addition to fish, Indian also exports large quantities of crustaceans to most countries.

8. Prints and signs

In many countries, public establishments, including public stores, schools, restaurants, banks, and more, have signs that remind people to pay attention to COVID-19 precautions, like wearing a mask and standing 6 feet/2 meters apart as per restrictions.

Having custom signs printed can get expensive for business owners, but when they are created in bulk, they can be sold at much lower rates. Consider creating sturdy signs, posters, window clings, and stickers that can be used for COVID-19 safety can help best logistic companies UK and shipping services UK.

Some of ideas for prints you could make include:

“Stand 6 feet apart at all times.”

“Stand 2 meters apart at all times.”

“This way only” (with the arrow)

“No mask, no entry.”

“All the patrons must wear a mask.”

“Hand washing instructions”

“Sanitise Hands Here”

Prints that are catchy with visual diagrams are valuable for businesses as a fact. If you decide to manufacture this type of product, prioritize quality since businesses will not want to replace these materials regularly for Sea freight service UK and UK shipping services.

Top 4 Products to Import to India

When it comes to importing, you’ll want to choose products that your local market demands but cannot easily access at all instances. If you can supply a product with an adequate demand that cannot be easily found or has local options that are too expensive, you’re destined for success for shipping to india from UK.

Here are a few of the top products to import to India for logistics services UK.

1. Electronics

The use of almost all electronic devices has grown in popularity around the world in the past decade, and Indians have participated in this trend in largescale, as well. India imports billions of dollars worth of electronics each year without fail. Most of these products come straight from China due to easy availability for top air freight services in UK.

India does manufacture and export some of their own electronic devices, but they have a long way to go before they match the amount that they import by top sea freight services UK.

2. Precious Jewels

It might shock you that precious jewels make the list of many of the top Indian imports, especially since we just covered that their land offers so many gems and minerals to them for freight forwarding companies in UK. Nonetheless, Indians import almost as many precious materials as they export from here.

3. Heavy machinery

Heavy machinery is currently another major import in India. These large tools are used for construction and industrialization for freight forwarder UK.

At this point, the majority of heavy machinery is being imported from Japan and China to India. This import industry is currently worth about $20 billion as of latest statistics.

4. Plastic

Although India’s prime minister is working to reduce the use of plastic and wastage, this material is still currently one of their top imports for cargo companies UK. Plastic can also be used to create a plethora of household products and product packaging.

India’s government aims to achieve a target GDP of US $5 trillion by the year 2025, and it could probably come close to attaining this goal. However, due to the pandemic, which stalled bilateral trade negotiations and manufacturing processes worldwide, actually hitting this milestone is unlikely to attain.

Even so, the Department of Commerce continues to maintain a positive outlook and remains committed to developing strategies that can triple Indian exports by the same year which could help many industries including international freight forwarder from UK. Several export schemes are already underway to encourage international trade through the financial incentives. That being said, there are also some barriers to keep in mind and then let’s examine the pros and cons of exporting from India to UK freight forwarders.

Pros

To support the export sector and encourage foreign exchange, the Indian government is providing a range of financial incentives to the local exporters as support. These incentives not only attract foreign buyers but also help Indian SMEs increase their profit margins and benefit freight forwarders from the UK handling air and sea. In mitigating costs commonly incurred by exporters, the government can effectively promote cross-border trade and reduce entry barriers for startup businesses here.

Examples of export incentives include:

Duty exemptions, such as duty-free import of inputs required for export production for export and import

Duty remissions, such as rebates of import duties on inputs used for export after production

Low-cost loans’ availability

Subsidies that reduce export prices as a whole

Cons

The key challenge for the Indian exporters can be summed up in just one word: unpredictability.

Infrastructure bottlenecks, shifting policies, and unstable freight costs are concerns all wholesale traders should be aware of in order to minimize risk for freight forwarders from UK handling Import and export.

Periodic power outages, insufficiently developed roads, and unstable telecommunication systems can sometimes hinder SME businesses in many possible ways. These infrastructure deficiencies are primarily outside the exporter’s control and can disrupt production and operations at various levels. Similarly, trade policies are another factor beyond your control, so keep an eye on updated trade regulations and amendments set to go live .

Unpredictable freight costs also pose a mucg significant barrier to local export businesses, especially during a pandemic. Over the previous year, container rates have nearly tripled due to severe container shortage. This unforeseen spike caused the export value of coffee, beef, tobacco, and other products to decline last July to export to India.

Fortunately, dealing in international trade doesn’t have to be a risky business as feared by many. Now that you’re aware of these potential obstacles, you can build an actionable risk management plan to ensure a swift response to unexpected events to import from India to other countries as well.