If you’re a young entrepreneur in India who is looking to get into the import/export business, what are the most profitable products that you can look to trade? There are several opportunities available to you, but we look at 5 opportunities each for exports and imports that give you the maximum chance.
Export Business Opportunities for Indian Entrepreneurs
India has something that many European and Asian countries do not – an abundance of organic chemical, which are used for a variety of purposes, such as agricultural products, drug manufacturing and more. This opens up a great opportunity for you to export organic chemicals from India to Europe, and Asian countries such as China and Japan.
Pearls and Stones
Places such as Surat in India are known for the mass production
custom jewelry using pearls and other precious stones. There is a huge demand in North America and Europe for Indian made jewelry with pears and other precious and semi-precious stones. This is a huge business opportunity waiting to be captured.
Cotton is grown all over India. In fact, India is one of the top producers of cotton in the world. If you could, as an Indian entrepreneur, establish relationships with cotton growers in the villages and export the cotton to Western countries or to China, where they can be used to make cotton textiles, then this would be a huge money making opportunity.
India has a huge reservoir of copper. There are copper mines in many parts of India. So how can you take advantage of that? It would be expensive for you to start a copper manufacturing business, but much less so to set up a copper exporting firm. But even this option requires a substantial investment to get started.
Tobacco is grown widely in India, so if you’re able to establish connections in the major tobacco regions in the country, you could export tobacco from India to Asia, Europe and North America, where it will be in demand from cigarette companies.
Import Business Opportunities for Indian Entrepreneurs
Electronics and Gadgets
There is a strong demand in India for electronics and gadgets such as mobile phones, LED TVs, DVD players, home appliances and more. If you could import electronics, accessories and gadgets from China, Taiwan and Hong Kong and sell them in India, that would open up a plenty of money making opportunities for you.
Iron and Steel
India does have many iron and steel companies, but still doesn’t get as much as needs. Iron ore is available in plenty in the country, but finish iron and steel products are in short supply. If you could import iron and steel from China into India, and sell it to manufacturers who are in desperate need of these products, then you would be in the money.
India has a number of pharmaceutical companies and one of India’s biggest exports is generic medicine. However, there are still a plenty of drugs that India does not make. There is hence a great demand for these drugs. If you could identify the drugs that are in great demand in India and not easily available, importing them could be a great opportunity for establishing a solid business.
Live Trees and Plants
There is a great demand in urban India for live trees, roots, cut flowers and ornamental foliage. If you are knowledgeable about handling plants, you could set up a business importing plants and trees into India and selling them to homeowners and offices in the city for profit.
Indians love seafood, but the country doesn’t make enough of it. This means there are a plenty of import opportunities waiting for you if you’re able to establish business relationships with countries such as Argentina, Brazil and Chine where seafood such as fish, crustaceans, mollusks are available in plenty.