Export Growth of India: Key Sectors & Global Impact

India’s transformation from a major importer to a fast-growing export economy is altering how businesses operate. More Indian-made products today are reaching global markets, with more than 190 countries now importing goods from India.

More than 49% of India’s exports now come from MSMEs, indicating the growth of small and medium-sized businesses. So, whether you are in textiles, food processing, electronics, or handicrafts, this global shift provides you with an opportunity to grow.

This blog will further guide you through what powers India’s exports, the key sectors, support systems, and more, and how ShiprocketX, as a platform, makes global shipping easy for you.

Inside India’s Export Engine: Sectors, Strategy and Scale

India’s transformation into an export-driven economy is a growing reality. India’s exports are providing more global opportunities, better infrastructure, and policies which make it easier for you to sell across borders.

Key Sectors Fuelling Export Growth

India’s exports today cover a wide range of products, but some sectors are leading the changes, such as

• Electronics & Mobile Phones: India exports mobile phones worth USD 15.6 billion in FY24, becoming a global player in smartphone manufacturing.
• Textiles & Apparel: This is a strong sector for Tier 2 and 3 cities, with significant global demand for garments, fabrics, and home linens.
• Agricultural & Processed Food: Indian food products, from rice and spices to pickles and millets, are being exported across the globe.
• Pharma: India supplies low-cost and high-quality medicines to multiple countries.
• Handicrafts & Leather Goods: Traditional crafts, bags, and footwear have a specific global market, especially from small manufacturers.

Government’s Export Strategy

To support export growth, there are several government initiatives already in place, such as

• New Foreign Trade Policy (FTP) 2023: This policy focuses on paperless trade, eCommerce exports, and supporting MSMEs. It makes selling globally easy with simple processes.
• Production-Linked Incentive (PLI) Scheme: If you are in sectors like textiles, electronics, and food processing, you can benefit from this scheme of financial incentives to increase exports and production.
• Districts as Export Hubs (DEH): This promotes local products from every district in India.
• Trade Agreements & Simplified Customs: India is signing new free trade agreements (FTAs) and enhancing its customs and port systems to enable the swift shipment of goods.
• Trade Infrastructure for Export Scheme (TIES): This scheme helps upgrade export-related infrastructure, such as warehouses, ports, and laboratories, to facilitate smooth logistics.
• Digital Tools & Support: Portals like DGFT, ICEGATE, and other platforms, such as ShiprocketX, can help you manage documents, shipments, and more.
• Market Access Initiative (MAI): It offers you financial help for international trade fairs, exploring new global markets, and product promotions.

India Scaling Fast

India’s export story is scaling quickly. In FY 2023-24, India’s total exports exceeded USD 776 billion, demonstrating growth across both goods and services. And this isn’t reducing; as India enters new global markets and widens its exports, it provides you with more opportunities to grow.

Steps Toward India’s Ambitious $5 Trillion Economic Goal

India’s dream of becoming a USD 5 trillion economy is a goal that involves growing investments, infrastructure, technology, and global trade. Some of the key steps that drive India’s economic growth are:

• Infrastructure: India has approved around Rs. 1.97 lakh crores for roads, railways, ports, and industrial corridors under the National Infrastructure Pipeline (NIP) through 2025.
• Tax Reforms: Corporate taxes have been cut down to 15% for new ventures, and streamlined GST has made doing business easier.
• Manufacturing Boost in India: Manufacturing growth is central and important. Schemes like Make in India or PLI support key sectors such as electronics, textiles, and pharma.
• Digital and Logistics Integration: The PM Gati Shakti initiative has integrated roads, rail, ports, and waterways digitally, speeding up shipments while saving costs.
• Skill & Digital Empowerment: With more than 3 crore youth trained and an increased number of ITIs, India is building a workforce that is ready to trade globally.

Beyond Numbers: The Social Impact of India’s Export Growth

India’s export growth is creating more job opportunities for local workers, more income for families, and more businesses for you. From textile workers to handicraft makers, many people are now getting a chance to sell products around the world.

The government’s Districts as Export Hubs (DEH) plan is to help by improving roads and warehouses, as well as providing export support.

What’s more, the rise of digital platforms has empowered more women to launch export businesses from their homes, using online tools to connect with international buyers and build independent livelihoods.

India’s Position in a Rapidly Shifting Global Trade Order

The global trade position is changing rapidly. Countries are now rethinking who they want to trade with, as they require more reliability and stronger supply chains. In this shifting situation, India is shown as a strong and trusted exporter.

With multiple global players shifting from heavy dependence on a single market like China, India is now becoming a preferred choice because of:

• Stable policies
• Skilled labour
• Improving infrastructure
• Government support for exporters

India is also signing trade agreements with countries such as the UAE and Australia. This provides you with easy access to global markets and low taxes on your products.

Simplifying Cross-Border Shipping: How ShiprocketX Enables Exporters

Getting into exports can sound exciting, but it’s a complicated process that includes other steps, such as international shipping, customs, and a significant amount of paperwork. This is where ShiprocketX can help you make a big difference. Some of the considerable features of ShiprocketX are:

• It is designed to help you easily ship products to more than 220 countries and territories without requiring expertise in logistics.
• Affordable shipping rates can get you access to competitive international courier rates, which don’t get in the way of your margins.
• ShiprocketX also collects your shipments directly from your doorstep and delivers them to your doorstep.
• Real-time tracking and visibility help you and your customers stay informed.
• ShiprocketX also handles documentation and paperwork for you.
• We help you manage orders, shipments, and payments from a single, easy-to-use dashboard for all.

Conclusion

India’s export journey is about growing sellers who are now ready to take their businesses global. With supportive policies, strong infrastructure, increasing demand for Indian products, etc., there is no better time to tap into international markets.

Starting an export business can be a daunting task. However, this is where ShiprocketX comes in to simplify your global journey while maintaining your margins and peace of mind intact.

Take your first step towards building a global brand, start exporting with ShiprocketX and let the world discover what you have to offer.