New Bharat- Top 3 Indian Trending Exports Industry
As per Indian foreign trade, the Ministry of Commerce and Industry’s latest report on 15th December 2023 India’s Merchandise and Service Exports USD 62.58 Billion, navigating 1.23 percent growth compared to 2022 as estimated at 61.82 Billion in USD.
India imported 67.88 Billion in 2023 and recovered a positive balance compared to 2022 as estimated at 72.34 Billion in USD. In this article we are going to explore Indian Top 3 Trending exports industry to expand your business globally.
Trending Indian Footwear Industry:
Indian footwear industry including leather footwear and nonleather footwear industry sounds under the list of top trending products list.
As per the Times of India research and broadcasting report on 13th Jan 2024, the Indian Leather footwear industry may hit positive growth hitting 47Billion by 2030 as a Target set by CLE ( Council of Leather Exports Promotion).
What is the global footwear market size?
The global footwear market is a dynamic and ever-evolving industry that encompasses the production, distribution, and sale of a wide variety of footwear products. This market is driven by diverse factors, including fashion trends, consumer preferences, sports and athletic activities, and changing lifestyles.
Manufacturers within the global footwear industry continually strive to innovate, incorporating advanced technologies and sustainable practices into their production processes.
As per various research websites report global footwear market is growing 412.90 Billion USD. It clearly shows that the footwear industry is one of the top global industry for small medium scale brands including big brands.
Key factors of the growing footwear industry?
The growing footwear industry is influenced by several key factors contributing to its expansion.
The footwear industry is a sustainable product in the market, it matters about sustainable quality, competitive price and supplying global market needs.
In summary, the key factors fueling the growth of the footwear industry include fashion trends, health consciousness, technological advancements, sustainability initiatives, the rise of e-commerce, and guaranteed small to medium-scale brands manufacturing, all of which contribute to the dynamic and expanding nature of the global footwear market.
Trending Bharat Gems and Jewellery:
Exports has different demand and taste as compare to countries. Indian Gems and Jewellery export has positive growth as per Nov 2023 report, 2802 Million USD compared to 2503 Million USD by 2022. The global Gems and Jewellery market size is growing toward 103.06 billion USD.
Key factors of growing Gems and jewelry industry?
The gems and jewelry industry’s growth is propelled by various key factors. Firstly, changing consumer preferences and fashion trends significantly influence the demand for diverse and stylish jewelry pieces.
Additionally, the industry benefits from the tradition of gifting jewelry on special occasions, new fashion design demands celebration, and personal expression contributing to sustained demand.
The gems and jewellery industry involved many small medium-scale creative businesses.
Trending Indian Pharmaceuticals products:
As per the Indian Foreign trade data report by Nov 2023, Drugs & Pharmaceuticals good has positive growth of 2135.51 Million USD compared to 1989.60 Million USD by Nov 2022.
Key factors of growing Pharmaceuticals :
The key factors driving the growth of the pharmaceutical industry include advancements in medical research, supportive regulatory environments, demographic changes, global health challenges, increased healthcare spending, and strategic investments in research and development.
These key factors encourage pharmaceuticals industry growth in the world market.
These top trending industries can be a great opportunity to start and expand your business to new heights. In conclusion, the keynote encourages businesses to build and innovate strategically, prioritize sustainability, and cultivate a global mindset.
By aligning with trending global demands, businesses can position themselves for not only navigating the challenges of the contemporary marketplace but also for sustainable growth and success in the future.Connect here to start up a small scale international business.