Why you should be exporting to India

Why you should be exporting to India

India is one of the fastest growing economies in the world. The UK exported goods worth £6.35 billion to India and services valued at £2.24 billion in 2014, and the UK is the third largest investor in India.

It’s a very large country made up of 29 different states and 7 union territories. The market varies widely across its many different regions and states.

India is a market which requires a lot of patience and a long-term strategy to be successful.

There are several reasons to choose India as an export destination:

  • English is widely spoken
  • a common legal and administrative history
  • rising personal incomes creating a new middle class consumer market
  • fast-growing economy with one of the world’s largest youth populations
  • expanding emerging cities with more than 50 cities now over a million people

Industries importing into India

The top 10 industries importing into India are:

  1. mineral fuels and oils
  2. gems and precious metals
  3. electrical machinery and equipment and parts
  4. machinery, mechanical appliances, reactors and boilers
  5. organic chemicals
  6. iron and steel
  7. plastics
  8. animal or vegetable fats and oils
  9. fertilisers
  10. medical, optical, photographic, measuring, precision, medical or surgical equipment

Of course exporting into India does come with some challenges. To find out more information about the challenges contact us at Logicom Hub

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