India’s reliance on Chinese industrial products like telecom, machinery, and electronics has increased in the last 15 years. China’s share in India’s imports imports of these goods has surged from 21 percent to 30 percent. Beyond economic concerns, the rise raises concerns about potential impacts on national security, broadening the scope of the issue beyond purely economic dimensions. पिछले 15 वर्षों में Telecom, Machinery, and Electronics जैसे Chinese Industrial Products पर India की निर्भरता बढ़ी है। India के इन Products के Import में China की हिस्सेदारी 21 Percent से बढ़कर 30 Percent हो गई है। आर्थिक चिंताओं से परे, यह वृद्धि राष्ट्रीय सुरक्षा पर संभावित प्रभावों के बारे में चिंताएं बढ़ाती है, जिससे मुद्दे का दायरा विशुद्ध रूप से आर्थिक आयामों से परे बढ़ जाता है।

In a submission to the WTO last week, India said that stringent MRLs can be trade-restrictive and act as non-tariff barriers to international trade, disproportionately affecting exporters from developing countries. पिछले हफ्ते WTO को सौंपे गए एक निवेदन में, भारत ने कहा कि कड़े MRLs व्यापार-प्रतिबंधक हो सकते हैं और अंतरराष्ट्रीय व्यापार के लिए गैर-टैरिफ बाधाओं के रूप में कार्य कर सकते हैं, जो विकासशील देशों के निर्यातकों को असंगत रूप से प्रभावित कर सकते हैं।

Despite global economic uncertainties, India’s services exports surged by 11.4% to $345 billion in 2023, outpacing China, whose shipments from the sector shrank by 10.1% to $381 billion, as per a UNCTAD report. Key sectors driving India’s growth include travel, transport, medical, and hospitality services. The world’s services exports, exceeding $7.9 trillion in 2023 with an 8.9% annual increase in current dollar value terms, were led by developing economies like India, China, Singapore, Turkiye, Thailand, Mexico, and Saudi Arabia. However, India’s services imports dipped marginally by 0.4% to $248 billion last year.

Identifying the Top 10 Profitable Products for Import Export in China & India requires considering various factors such as market demand, trends, regulations, and potential profitability. Here’s a list of top 10 profitable products for import export in China & India   Top 10 Profitable Products for Import Export in China: Electronics and Gadgets: Accessories like phone cases, chargers, and power banks also offer opportunities. China is known as a manufacturing hub for electronics, including smartphones, laptops, and consumer electronics. Textiles and Apparel: China is a major exporter of textiles and apparel, offering a wide range of products including clothing, fabrics, and accessories. High-quality fabrics, fashion garments, and sportswear are particularly popular. Machinery and Equipment: China produces a vast array of machinery and equipment, including industrial machinery, construction equipment, and agricultural machinery. Specialized equipment such as CNC machines and industrial robots are in demand. Toys and Games: China is a leading manufacturer of toys and games, catering to both domestic and international markets. Educational toys, electronic toys, and board games are popular categories. Home and Kitchen Appliances: Chinese manufacturers produce a wide range of home and kitchen appliances such as refrigerators, air conditioners, and kitchen gadgets. Energy-efficient and smart appliances are gaining traction. Automobile Parts and Accessories: China’s automotive industry produces a variety of parts and accessories, including tires, batteries, and auto electronics. Electric vehicle components and aftermarket accessories have growth potential. Health and Wellness Products: With an increasing focus on health and wellness, products like vitamins, supplements, and fitness equipment are in demand. Traditional Chinese medicine products also have export potential. Solar and Renewable Energy Products: China is a leading manufacturer of solar panels, inverters, and other renewable energy products. The global shift towards clean energy presents export opportunities. Furniture and Home Décor: China offers a wide range of furniture and home décor items, including modern and traditional designs. Eco-friendly and sustainable furniture options are gaining popularity. Food and Agricultural Products: China exports a variety of food and agricultural products, including seafood, fruits, and vegetables. Organic and specialty food items have export potential, along with processed foods and beverages.   Top 10 Profitable Products for Import Export in India: Pharmaceuticals and Healthcare Products: India is a major exporter of pharmaceuticals, generic drugs, and medical devices. Herbal and ayurvedic products also have export potential. Textiles and Garments: India is renowned for its textiles and garments, offering a wide range of fabrics, apparel, and traditional attire. Handloom textiles, ethnic wear, and sustainable fashion are in demand. IT Services and Software: India’s IT sector is a global leader in software development, IT services, and outsourcing. Software solutions, IT consulting, and digital services are exportable. Automotive Components: India manufactures a variety of automotive components, including engine parts, brakes, and electrical components. Auto ancillary products and aftermarket parts have export potential. Agro-Products: India exports a range of agricultural products such as spices, tea, coffee, and rice. Organic and specialty food items are gaining popularity in international markets. Gemstones and Jewelry: India is renowned for its gemstones, diamonds, and jewelry craftsmanship. Traditional and contemporary jewelry designs have export potential. Engineering Goods: India produces engineering goods including machinery, equipment, and industrial products. Precision engineering components and machinery parts are exportable. Chemicals and Petrochemicals: India manufactures chemicals, petrochemicals, and specialty chemicals for various industries. Agrochemicals, dyes, and pharmaceutical intermediates are exportable. Handicrafts and Artifacts: India’s rich cultural heritage offers a variety of handicrafts, artworks, and artifacts. Handmade textiles, pottery, and woodcrafts have export potential. Home Décor and Furnishings: India produces home décor items such as carpets, rugs, furniture, and decorative accessories. Handcrafted and eco-friendly home décor products are in demand. These product categories represents the top 10 profitable products for import export in China & India. However, it’s essential to conduct thorough market research, understand regulations, and establish reliable supply chains before venturing into any import-export business.

Dipan Mehta discusses Adani Ports as a standout in the logistics sector, emphasizes cautious market approach, highlights AI’s significance in software companies, and advises prudence in commodity stock investments, suggesting specific opportunities like Vedanta and Jindal Stainless for potential returns. Mehta alsosays: “Technology is the way forward. The biggest trend of the next decade has to be AI and the best way to play AI would be through Indian software service companies.”

“We have identified 20 products. At present, India’s share is low in global exports. We are working on a detailed action for all these products,” said Rajesh Agarwal, additional secretary, department of commerce, adding that the action plan will be discussed with all the stakeholders including states for further action.

At a WTO meeting, they argued that the EU’s safeguard duty – brought into force after the United States in 2018 imposed additional duties on certain categories of steel imports from the bloc – was inconsistent with the global trade body’s rules. WTO members, including India, also criticised similar duties imposed by the United Kingdom.

Navigating customs procedures and documentation is crucial for any import and export business to ensure smooth and compliant international trade transactions. Here’s a guide on how to navigate theseprocesses effectively: Understand Import and Export Regulations: Obtain Necessary Licenses and Permits: Classify Your Goods: Prepare Required Documentation: Ensure Compliance with Customs Regulations: Use Authorized Customs Brokers or Agents: Manage Duties and Taxes: Implement Record-Keeping Practices: Stay Informed About Changes in Regulations: Seek Professional Advice When Needed: By following these steps and investing time in understanding customs procedures and documentationrequirements, you can streamline your import and export business and ensure compliance with regulatoryobligations, thereby minimizing the risk of delays or penalties.

Basmati rice is another agri-commodity which Iran imports from India. In FY24, India exported one million kg of basmati rice to Iran, out of its total exports of 4.9 million kg.

Smartphone makers are hoping for exports from India to continue their strong showing, which will drive their own growth as production levels are reaching their saturation point if only the domestic market is to be served, said market trackers. “The only headroom for growth right now is by increasing exports from India,” said Prachir Singh, senior analyst, Counterpoint Research.