In continuation of the double-digit export growth seen in February 2017, March 2017 saw significant growth at USD 29.232.05 million, compared to USD 22,911.74 million during March 2016.

For the period April to March 2016-17, the cumulative export value was USD 2,74,645.10 millions (Rs 18,41.314.39 crore), compared with USD 2,62,290.11million (Rs 17,16.377.99 crore). This represents a positive growth rate of 4.71 per cent and 7.28 per cent respectively in Rupee terms. India’s GDP is 4% due to exports.

India received foreign currency in the form of 10 commodities, which were exported the most.

Here are the 10 commodities most exported from India and their dollar value:

01. Petroleum products

Value – 61.2 billion dollars

The export sector of India has been greatly aided by oil-based products and giant crude oil companies like Hindustan Petroleum Corporation Limited (Bharat Petroleum), Reliance Petroleum, ONGC, ONGC, ONGC, Reliance Petroleum, Reliance Petroleum, and Bharat Petroleum. Although India is heavily dependent on oil imports for its economy, exports of oil-based products have helped it to a great extent.

02. Jewellery

Value – 41.2 billion dollars

Jewellery can be defined as gold, gemstones, and other similar materials. India accounts for around 20% of global gold production. 75% of this amount is used to make jewellery. Banks and government policies support the jewellery industry so that it does not decline. Only 30% of Indian jewellery is exported to the United States. These countries include Hong Kong and Singapore, the UAE, Singapore, and Belgium.

03. Automobile

From 2008 to 2013, the Indian automobile export sector has seen a rise of 17 per cent, one of the fastest economic growths that have ever taken place in the sector. Being one of the leading steel producers in the world, India invests largely in the automobile sector and its export.

04. Machinery

Value – 13.6 billion dollars

There has been a 10.5 per cent increase in the export of heavy machinery from India. These include cars, pumps, heavy machines, building construction tools, agricultural equipment and so on.

05. Bio-chemicals

Value – 12 billion dollars

Manufacturing bio-chemicals is a nationwide business in India. The sector contributes hugely to the national economy and is an essential part of it. Manufacturers and exporters are spread all over the country. Research facilities have also supported this sector to a large extent.

Made in India Top 10 export products from India

06. Pharmaceuticals

Value – 11.7 billion dollars

Being a research-based industry, the pharmaceuticals sector in India has seen huge growth over the past few decades. Major pharma industries such as J. B. Chemicals and Pharmaceuticals Limited, Suven Life Sciences Limited, Dr Reddy’s Laboratories, Aurobindo Pharma, Lupin, Ranbaxy, Sun Pharma, Zydus Cadila, Glowchem and Calyx play a huge role in promoting the sector to the world market.

07. Cereals

Value – 10.1 billion dollars

India is one of the leading exporters of cereals and the second-largest producer of rice. Being an agriculture-driven country, India depends largely on its production of cereals and so do the importer countries such as Iran, Saudi Arabia, Indonesia, UAE and Bangladesh.

08. Iron and steel

Value – 9 billion dollars

Before Independence, India used to depend on its import of iron and steel. But now, the country has gone through such an industrial growth that it has become the fourth-largest steel producer in the world. Steel tycoons such as TISCO, IISCO, Bhilai Iron and Steel Centre, and Visweswaraya Iron And Steel Limited play a major role in the iron and steel export from India.

09. Textile

Value – 9 billion dollars

Textile is India’s trump card when it comes to exports. India tops the chart in jute production and also holds 63 per cent of the global market share in textiles and garments.

10. Electronics

Value – 9 billion dollars

When it comes to manufacturing electronic equipment, India is still seen as an importing country. However, the export part of this sector thrives silently yet largely. India has the third-largest pool of electronic scientists and engineers and the domestic demand for electronic goods propels the industry to grow faster and stronger, making export all the more important.

How to Register for an IEC Code 

Eligibility for IEC Code Registration

Any kind of business enlistment: sole ownership, association, private restricted organizations, beneficent associations managing import and products of merchandise can enroll for import-send out code, regardless of the size. In any case, an IEC isn’t needed for the import/commodity of products for individual use, which isn’t associated with the exchange, assembling, or agribusiness. There is no requirement for a business arrangement.
Documents required for IEC code

For IEC Code Registration, the  following documents are required:

  • Individual’s or Firm’s or Company’s copy of PAN Card.
  • Individual’s voter id or Aadhar card or passport copy.
  • Individuals or companies or firms cancel cheque copies of current bank accounts.
  • Copy of Rent Agreement or Electricity Bill Copy of the premise.

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