Since its inception, Made in India has gone from selling decorative items to manufacturing intricate textiles and elaborate machinery. As export figures are set to reach new heights in 2024, India’s products showcase a blend of modern innovation and rich heritage, meeting demands from every corner of the globe. As a business owner and exporter, knowing more about India’s exports could help you seize opportunities and improve your business.
In this blog, let’s take a look at the top 10 products exported from India in 2024 and explore their contributions, highlighting what makes them so valuable and the markets they serve.
India’s Role in Global Trade
India’s export industry, spanning a diverse array of sectors, has become a global powerhouse, contributing substantially to both GDP and employment. As per the Ministry of Commerce and Industry, India’s exports reached an impressive $261.47 billion by July 2024, marking a 6.65% increase over the previous year. This boom isn’t just about numbers; it reflects India’s growing influence on the world stage, from consumer goods to essential industrial supplies. Key products such as refined petroleum, which fuels economies worldwide, exemplify the scale of India’s industrial output. In contrast, handcrafted gems and jewellery emphasize India’s craftsmanship and have garnered admiration in luxury markets globally.
This thriving sector also includes pharmaceuticals, reinforcing India’s title as the “pharmacy of the world” with exports that supply critical medicines and vaccines to countries across continents. Meanwhile, textiles and tea—a nod to traditional Indian exports—continue to thrive, catering to both niche and mass markets. The variety in India’s export portfolio—from machines and chemicals to dairy and automobiles—reflects a nation seamlessly balancing technological progress with deep-rooted cultural expertise, marking India as an indispensable partner in global trade.
With its affordable, high-quality products, India supports both developed and emerging markets and drives global economic growth. Moreover, India’s focus on sustainable and technology-driven exports shapes international trade policies and market trends. Initiatives such as FTP 2024 aim to further facilitate foreign trade, particularly through e-commerce platforms.
This diverse and vibrant export sector showcases India's unique blend of heritage and innovation, meeting the demands of international markets while establishing India as a trusted supplier across industries. From pharmaceuticals to handicrafts, India’s exports are a testament to its adaptability and broad appeal. Each product category plays a strategic role, supporting economic growth domestically and bolstering India’s standing as a global trade leader.
Let’s take a look into India’s top 10 exports and how these products reinforce India’s reputation and influence on the world stage.
Top 10 Products Exported From India
India’s export terrain is rich with diverse products that demonstrate both traditional craftsmanship and modern manufacturing strength. From essential energy resources to luxury items and agricultural staples, each product in India’s top exports serves as a powerhouse in boosting India’s global economy. Here’s a closer look at the top 10 products exported from India, driving revenue and enhancing India’s reputation in the world marketplace:
- Petroleum Products
- Gems and Jewelry
- Pharmaceuticals
- Textiles and Garments
- Organic and Inorganic Chemicals
- Machines and Equipment
- Iron and Steel
- Automobiles
- Dairy Products
- Tea
With solutions like PayGlocal, Indian exporters across industries like pharmaceuticals, textiles, and jewellery can streamline their international transactions, ensuring steadfast growth in global markets.
Check out more: Understanding Types of Export Payment Terms.
Now that you know what products help India expand its global economy, let's start by understanding India’s Petroleum Products that top the charts for fueling India’s revenue to skyrocket in global trade as of 2024:
Petroleum Products:
Petroleum exports accounted for 10.3% of India's total exports, making it one of the most important contributors to the country's export earnings. India is among the leading exporters of petroleum products. By refining crude oil into high-demand products such as petrol, diesel, jet fuel, and LPG, India is a global energy supplier.
As global energy demand continues to rise, India’s petroleum exports started booming than anticipated in 2024. The ever-growing demand for fuel in transportation and industry keeps the market for petroleum products extremely lucrative. As countries increasingly focus on shifting to cleaner fuels, India remains competitive thanks to its ability to supply various grades of petroleum products.
Major Products
India refines and exports an array of petroleum products. These include:
- Petrol
- Diesel
- Jet fuel
- Liquefied petroleum gas (LPG)
Key Buyers
India’s petroleum exports are spread across multiple regions, with the United Arab Emirates, Singapore, China, the USA and the Netherlands among the most important customers. These countries are attracted by India's refining capacity and the competitive prices of its petroleum products.
Also Read: Mastering Exports: A Complete Guide to Letters of Undertaking (LUT) for Indian Exporters.
Having discussed energy exports, let’s now delve into India’s world-renowned Gems and jewellery sector:
Gems and jewels:
India's gemstone and jewellery industry is a cornerstone of its economy, significantly contributing to global markets. In the fiscal year 2023-24, the industry exported gems and jewellery valued at approximately $24.42 billion, underscoring its pivotal role in international trade.
Blessed with abundant natural resources, India’s gemstone and jewellery industry shines on the world stage thanks to its rich history of craftsmanship and the sheer diversity of its offerings. From intricate gold jewellery to precious gemstones, India caters to customers seeking both traditional and modern styles. Cities like Jaipur and Surat have long been centres for diamond cutting and gemstone processing, while Mumbai and Kolkata are famous for gold jewellery.
Major Products
India exports a wide range of jewellery products:
- Gold jewellery: Famous for purity and craftsmanship
- Diamonds: India is one of the largest diamond-cutting and polishing centres in the world
- Pearls and gemstones: A variety of stones including emeralds, sapphires and rubies
Key Buyers
India plays a vital role in meeting the global demand for exquisite jewellery in the US, Hong Kong, the United Arab Emirates, Switzerland, and the UK, where there is a great demand for traditional and modern designs. Exporting these treasures boosts India’s economic growth and highlights the country's prowess in the international gemstone and jewellery market.
After discovering India’s impact on luxury goods, let’s turn to the pharmaceuticals that make India the “pharmacy of the world“:
Pharmaceutical products:
India is a leading global supplier of generic medicines, accounting for approximately 20% of the world's generic drug exports by volume. The country’s pharmaceutical industry is known for its affordable and high-quality medicines, which are exported worldwide. Due to the growing demand for cost-effective treatments, pharmaceutical exports are expected to keep increasing in the coming years.
Major Products
India’s pharmaceutical exports include:
- Generics: Affordable versions of branded drugs
- APIs (active pharmaceutical ingredients): Essential for drug manufacturing
- Biopharmaceuticals: Including vaccines and biologic drugs
Key Buyers
India exports pharmaceuticals to several countries, with the US, EU, Japan and South Korea among its largest markets. These countries rely on the Indian pharmaceutical industry for a steady supply of affordable medicines.
With India’s pharmaceutical prowess in mind, let’s explore the dynamic and diverse textiles and garments industry:
Textiles and Apparel:
The Indian textile industry is a cornerstone of the country’s economy. It contributes approximately 2.3% to India's GDP and accounts for 12% of the nation's export earnings. It combines ancient traditions with modern techniques. With its rich range of fabrics and designs, Indian textiles are in high demand worldwide.
Major Products
India produces and exports a wide range of textiles, including
- Cotton: India is one of the largest cotton producers in the world
- Silk and wool: known for premium quality
- Synthetic fibres: used in modern clothing and industrial applications
- Ethnic garments: Including sarees, lehengas and salwar kameez
Key Buyers
Major markets for Indian textiles include the UK, the US and the UAE, where Indian garments are prized for their quality and craftsmanship.
Having touched the fabrics and fashion industry, let's now dive into the chemicals—both organic and inorganic—that solidify India’s bonds in the global marketplace:
Organic and inorganic chemicals:
The Indian chemical industry is another important component of India's export economy. In the fiscal year 2022-23, the export value of organic and inorganic chemicals from India was approximately ₹2.4 trillion. Both organic and inorganic chemicals are supplied to a wide range of global industries, from manufacturing to agriculture. India is one of the leading producers and exporters of chemicals, and the demand for its products remains robust due to competitive prices and high quality.
Major Products
India’s chemical exports cover a broad spectrum, including:
- Acetic acid: used in food production, pharmaceuticals, medicine, and plastics manufacturing
- Soda ash: Important for the manufacture of glass, paint, paper, and detergents
- Dye intermediates: Crucial for textile and leather dyeing.
Key Buyers
India’s chemical exports reach global markets, with the USA, China, Brazil, Germany and the United Arab Emirates among the top buyers. These chemicals are vital to the industrial sectors in these countries.
Having discovered how the chemical industry is important for Indian exports, now let’s discover how machines and equipment highlight India’s growing manufacturing strength:
Machinery and equipment:
Machinery and equipment is a growing sector in India’s export portfolio. India, a rich exporter of iron and steel, aims to double the size of its automobile industry to INR 15 Lakh Cr by 2025. The country manufactures a variety of machinery that is used in industries such as construction, agriculture, and manufacturing. India has enough raw materials and skilled labour to produce high-quality machinery and auto parts.
Major Products
India’s machinery exports include:
- Machine Tools: used in the industrial production of dairy products, food processing, and the textile industry
- Pumps and Motors: Essential for various industrial applications
- Turbines: For power generation
Key Buyers
Major markets for Indian machinery include the US, the United Arab Emirates, the Netherlands, and the UK, where demand for low-cost and durable machinery is high.
After machines, let’s examine Iron and Steel, the materials at the heart of construction and infrastructure development worldwide:
Iron and Steel:
The Indian iron and steel industry has seen significant growth. In the fiscal year 2023-24, India exported 7.5 million metric tons of finished steel, marking an 11.5% increase from the previous year. Its products are used in construction, automotive, and other industries worldwide. India exports a variety of steel products essential for building and infrastructure development.
Major Products
- Sheets
- Bars
- Tubes
Key Buyers
The major importers of Indian iron and steel are the US, EU, Middle East, and China, where growth in construction and industry is driving demand for these products.
Also Read: Impact of GST on Export of Services in India.
Shifting gears from raw materials, let’s move on to India’s automotive exports that drive significant growth worldwide.
Automobiles:
India’s automotive industry is one of the fastest-growing in the world. In the fiscal year 2023-24, India exported approximately 4.5 million vehicles, including passenger cars, commercial vehicles, three-wheelers, and two-wheelers. From passenger cars to motorcycles, India manufactures a range of vehicles that are exported globally. The country is a hotspot for vehicle manufacturing due to its highly skilled workforce and low manufacturing costs.
Major Products
India exports a variety of vehicles, including:
- Cars
- Trucks and tractors
- Motorcycles
Key Buyers
- Indian automobiles are popular in major markets, including the US, Europe, and Africa, where they are affordable and reliable.
- Leading Indian automobile manufacturers such as Tata Motors, Mahindra & Mahindra, and Bajaj are making great strides in these markets with both economy and premium models.
Also Read: Uncovering the Hidden Costs of International Business Transactions.
Following automobiles, let’s take a look at dairy products, a vital sector demonstrating India’s growing export business.
Dairy Products:
With companies like Amul at the forefront, India's dairy sector has earned global recognition for producing high-quality, nutritious products that appeal to health-conscious consumers. In the fiscal year 2023-24, Amul reported a sales turnover of over ₹128 billion, reflecting its significant role in the global dairy industry. Known for their distinct taste and nutritional richness, Amul’s exports—especially milk, ghee, and cheese—are gaining popularity in regions like the United States, Australia, and parts of Europe, where consumers increasingly appreciate the health benefits of Indian dairy products.
Major Products
- Milk
- Ghee
- Cheese
Key Buyers
Indian dairy products are renowned for their quality and unique taste, particularly milk from bovine cattle, which is valued for its nutritional quality.
- United States
- Australia
- Parts of Europe
With dairy on the table, let’s explore India’s most treasured beverage for its rich flavour and significant fan base around the globe:
Tea:
Indian tea exports, particularly Darjeeling and Assam varieties, are highly valued for their distinctive flavours and heritage. In the fiscal year 2023-24, India exported approximately 200.79 million kilograms of tea, generating revenue of US$726.82 million. With a rising global interest in organic and specialty teas, India is capturing niche markets fueled by sustainable farming practices and exceptional tea quality.
Major Products
- Darjeeling Tea
- Assam Tea
- Specialty and Organic Teas
Key Buyers
India’s diverse tea offerings, including organic and speciality varieties, are capturing global markets. They emphasize high-quality and unique flavour profiles.
- United States
- United Kingdom
- Russia
- Japan
Now, with this comprehensive understanding of the top 10 products exported from India, let’s understand what challenges the export industry is facing:
Growing Concerns and Challenges
India's export industry is maneuvering a global sphere, constantly overcoming challenges.
The challenges include economic:
Economic Fluctuations:
As global economies tighten, managing currency volatility has become a concern for staying competitive. Fluctuating exchange rates impact profit margins and, consequently, the pricing of goods in international markets.
Trade Barriers:
Stricter international compliance, particularly in areas of quality and safety standards, demands that exporters closely monitor their production and certification processes to meet the expectations of global buyers.
Rising Quality and Environmental Standards Expectations:
A recent CRISIL report highlighted India's ability to maintain resilience in exports despite these headwinds, with particular strength in sectors like agriculture and pharmaceuticals, which are seeing consistent demand. Keeping up with these demands requires continuous adaptation and an emphasis on quality, which may strain resources, especially for small and medium exporters.
India is focusing on a diversified export strategy to steer through the budding requirements. Key industries are being encouraged to adopt sustainable practices, and government support through export credit and quality assurance initiatives is increasingly vital. Programs such as the Export Credit Guarantee Corporation (ECGC) insurance and specific export schemes aim to mitigate risk and safeguard against currency or compliance-related disruptions, ensuring that exporters can pursue growth opportunities while meeting global standards.
Now that you are aware of the growing challenges Indian exports are facing, let’s dig into the list of measures and schemes the Indian government has adopted for safer exports:
Government Measures and Schemes for Safer Exports
The Indian government has implemented strategic schemes and initiatives to ensure safer and more efficient exports of top Indian products.
| Scheme | Description |
|---|---|
| Market Access Initiatives (MAI) Scheme | It provides financial assistance to exporters to develop new markets, conduct market research, and enhance global product visibility. It also supports compliance with international standards and market requirements. |
| Agriculture Export Promotion Scheme | Managed by APEDA, this scheme focuses on promoting agricultural exports, particularly for perishable items, by providing infrastructure support, branding, and market linkages. Assistance includes cold chain development and quality control to meet global standards. |
| National Dairy Development Board (NDDB) Initiatives | Through Operation Flood, NDDB transformed India's dairy sector into one of the largest globally. NDDB initiatives support dairy export quality, ensuring traceability and hygiene to meet international standards. |
| Export Credit and Insurance Schemes | The Export Credit Guarantee Corporation (ECGC) offers risk protection by covering losses from political and commercial risks, bolstering confidence for Indian exporters in high-risk regions. |
These initiatives help India bolster its export infrastructure, adapt to international trade demands, and strengthen its position as a safe, reliable exporter in the global market.
Having explored these impressive insights, let's wrap up things by summarizing the key takeaways of how Indian exports play a transformational role in global trade while overcoming setbacks.
Conclusion
With the growth of India’s e-commerce sector, using advanced payment technologies will be critical to maintaining competitiveness and increasing export success. By familiarizing yourself with the top 10 products exported from India, the country can successfully demonstrate diversity and industrial strength, from fuel and chemicals to artful craftsmanship. Despite challenges like fluctuating global prices, India’s export sector continues to expand, impacting global trade dynamics. With strategies to increase export volumes, India is positioned to influence the world economy in future years.
Armed with these insights on the top 10 products exported from India, you can now outshine the export business competition by embracing cutting-edge payment solutions like PayGlocal!.Enjoy multi-currency accounts, dynamic checkout, and secure card payments—all on one platform. Visit PayGlocal today and accelerate your growth!
FAQs
- What are the opportunities for Indian exporters in the coming years?
The emerging markets in Africa, Southeast Asia, and Latin America as well as the growing demand for e-commerce, sustainable, and organic products, offer great opportunities for Indian exporters.
- What challenges will Indian exporters face in the coming years?
Key challenges include rising costs due to inflation, logistical bottlenecks, uncertainties in global trade, compliance with international standards, and fluctuating foreign exchange rates.
- Are there specific product restrictions for exports from India?
Yes, there are export restrictions or bans on some products. These include certain wildlife products, antiques, and restricted agricultural products. Exporters must check with the DGFT to ensure their products comply with export regulations.
