Import Export Business Ideas in 2024

Updated: 31-May-2023
Import Export Business Ideas in 2024

Do you intend to launch your own import and export business in India? It's the finest idea! The expansion of the import and export industries has made the world more open than before. However, a lot of us are unsure if we can realize our professional aspirations and objectives in the areas of interest that we have chosen. Looking for import and export business ideas to help you plan your next step into the world of import export business? Take a look at 15 significant import export business ideas that you can implement as soon as feasible to earn income. Today we will discuss how to start the import and export business in 2024.

What is Import Export Business?

An import export business functions as a bridge between countries, cities, or states by purchasing and selling commodities and services. Consider it is a global marketplace where companies buy items/products from other countries (importing) and sell them elsewhere (exporting). This company is critical to global trade because it allows countries to exchange their unique and diverse products and resources.

The export sector has grown significantly in recent years, opening up new opportunities. There are various successful instances of newly founded export businesses all around you. Although the export market is attracting new business owners, no one can succeed as an exporter without a thorough understanding. As a result, if your inquiry is "Is the import and export business profitable in India?" The obvious response is a resounding "yes." Read More...

Here is the growth chart for import and export business in India for 2023-24:

 growth chart for import and export business in India

Top 15 Profitable Import Export Business Ideas in 2024

There is a lot of advice and methods about the import-export industry available, but you must make a wise choice when determining what will be profitable for you. It is more vital to consider which export business best matches you than which is the best. You must take several elements into account before implementing any specific top import export business ideas. These could include the necessary investment, the staff, the cargo, the taxes, the intended market, the liquidity, etc. 

Here is the list of 15 profitable import and export business ideas in 2024:

  1. Jewellery 

  2. Coffee

  3. Health and wellness products

  4. Spices

  5. Handicraft

  6. Electronics

  7. Tea

  8. Leather

  9. Medicine Equipment

  10. Textile

  11. Heavy Machinery:

  12. Chemical Exports

  13. Furniture

  14. Raw Material

  15. E-commerce

Top 15 Profitable Import Export Business Ideas in 2024

Let’s discuss some of these import and export business ideas in more detail while keeping everything in mind.

1. Jewellery: HS Code- 7113

Jewellery is the best Import export business idea that is always in demand. Entrepreneurs can import jewellery such as gold, silver, and gemstones from countries such as India, Thailand, and Brazil. There are plenty of mines for precious metals and gemstones in India, and some of these are in high demand in other countries.

2. Coffee: HS Code- 0901

India is the world's sixth-largest producer and fifth-largest exporter of coffee, and it is the third-largest producer and exporter of coffee in Asia. In essence, the nation produces 4.05% of the world's coffee. The top countries importing Indian coffee are often Italy, Russia, Germany, Belgium, Turkey, Slovenia, Jordan, Australia, Greece, and Poland.

3. Health and wellness products: HS Code- 49019900

Health and wellness products are becoming the best Import export business ideas and are becoming  increasingly popular as people become more health-conscious. Entrepreneurs can import health and wellness products such as organic supplements, essential oils, and natural skin care products from countries such as India, China, and Brazil.

4. Spices: HS Code- 0910

The top producer and exporter of spices worldwide is India. Nearly 75 of the 109 kinds recognized by the International Organization for Standardization (ISO) are produced in the nation. The demand for various spices in well-known markets needs to be examined, and you need to identify a product-market match that benefits your company.

5. Handicrafts: HS Code- 420221

Handicrafts such as pottery, paintings, and sculptures are Import export business ideas and can be sold at a high price. Entrepreneurs can import handicrafts from countries such as Mexico, India, and Indonesia. Indian exporters can take advantage of this need and create their home décor export business by having a solid foundation in countries like the USA, UK, Canada, France, Italy, Germany, and the United Arab Emirates.

6. Electronic products: HS Code- 854214 

Technology products are always in high demand, and the best Import export business ideas. Entrepreneurs can import technology products such as smartphones, laptops, and smart home devices from countries such as China, South Korea, and Japan.

7. Import-Export of Tea: HS Code- 0902

Tea is favoured practically everywhere in the globe and is the second most popular beverage after water. Since India and China are the two countries that export the most tea, you may import some of the finest tea available worldwide. You can export it to other nations if you're in China or India.

8. Leather-based goods: HS Code- 420221

The demand for leather, which is used to create wallets, toys, handbags, belts, and many other products, will always exist. Success stories of small and medium-sized companies exporting leather abound. India is becoming well-known for exporting leather. You can join this stream!

9. Medical Equipment: HS Code- 420221

The import and export of medical equipment are Import export business ideas. It is also India's rarest and most flexible import and export business ideas in India. Find out what kind of medical supplies are lacking in our nation and import those.

10. Textiles: HS Code- 420221

Textiles such as fabrics, clothing, and accessories are always in demand. Entrepreneurs can import textiles such as silk, cotton, and wool from countries such as India, China, and Italy.

11. Heavy Machinery: HS Code- 420221

Without heavy machinery, industries, and construction sites are impotent, and many importers are making large sums of money in the same industry. Also,  it is one of India's best import business ideas. 

12. Chemical Exports: HS Code- 38244090

With an ever-increasing demand for chemicals, India is a leading exporter of organic and inorganic chemicals to several countries. Even as a small-scale distributor, beginning your own chemical exports is the most profitable export company in India.

13. Furniture: HS Code- 420221

Furniture is a staple in every household. Entrepreneurs can import furniture such as wooden chairs, tables, and cabinets from countries such as Vietnam, India, and China.

14. Raw Materials: HS Code- 3926

Raw materials like rice or sugarcane are an Import export business ideas These crops thrive in India's climate, and our agricultural heritage also helps! Additionally, numerous government initiatives greatly promote Indian agricultural exports, making it a simple and lucrative business to launch.

15. E-commerce: HS Code- 71081200

With the rise of e-commerce, there is a growing demand for products from all over the world. Entrepreneurs can start an import export business by sourcing unique and high-quality products from overseas and selling them online. This business model allows entrepreneurs to reach a global market and expand their customer base. 

Do you need major export products from India? Look into India Top 10 Exports 2024

How to Start Import Export Business?

One of the simplest and most economical ways to establish an export-import business is through these import export business ideas. Thus, beginning an import export business idea unquestionably expands your market and your revenue. However, before selecting the appropriate product to export from India, it is crucial to consider market conditions, compliance, and logistics. It is crucial to understand the type of product that should be exported, the amount of investment needed, as well as other factors like labor, documentation, permissions, partnerships, etc.

However, starting an export firm is not too difficult. The procedures listed below can be used to launch an import and export business in India:

  • Step 1: Register your business

  • Step 2: Acquire a Permanent Account Number (PAN)

  • Step 3: Obtain a current bank account

  • Step 4: Get Import-Export Code (IEC) number from DGFT

  • Step 5: Acquire Registration and Membership Certificate (RCMC) of the respective export promotion council

  • Step 6: Choose the right products and target marketplace

  • Step 7: Search for customers or importers

  • Step 8: Finalize pricing and get all mandatory documents

  • Step 9: Ship goods and gain the payments

You’ll require various significant licenses and certificates to start your import export business, no matter what sector you plan on dominating.

Here are some of the major ones:

  • Import license

  • Export license

  • Electronic export information filing

  • Customs and border protection license

  • A certificate of origin is necessary for specific products.

Is the Indian export business profitable?

How much can you earn from export-import business?

The potential earnings from an export-import business can vary greatly depending on several factors, such as the Import export business ideas, the products being traded, the size and scale of the business, the target market(s), and the competition in the industry.

If the business can successfully identify high-demand products and establish strong relationships with reliable suppliers and buyers, it can potentially generate significant profits. However, there are also risks involved, such as currency fluctuations, customs regulations, and political instability in certain regions.

In general, the earnings from an export-import business can range from moderate to very high and may be influenced by a variety of factors, such as market demand, supply chain efficiency, and business strategy. It is important to thoroughly research and plan the business before starting to import and export business in India


Now that you’ve reached the end of our how-to start an import-export business in India, what do you think? So, in this blog, we covered 15 import export business ideas and major export products from India. In the last part of this blog, you will understand how you can obtain reliable import export data. However, if you have any queries related to export import data or require any business advice, connect with professionals to learn more about export products from India and boom your business globally. Connect now to get started on your import-export journey! 

Frequently Asked Questions(FAQ's)

1. Which business is best for import-export?

India is a global leader in textile and garment exports, renowned for its quality and diversity. Also, India has a successful track record of exporting textiles, spices, tea, gems and jewellery, leather items, and agricultural products.

2. How do I start an import-export business?

Establishing an import-export firm in India entails registering the company, obtaining an IEC code, and opening a particular bank account. To begin, research your target market and product, followed by logistics and financing.

3. What is the most profitable import business?

The most profitable import business is  “Textiles” as it is one of India's largest import and export markets. 

4. How profitable is the import-export business?

Undoubtedly, the import-export firm has the potential to be tremendously profitable. The success of this type of business depends on several factors such as market demand, product selection and pricing strategies.

5. What is the most profitable import in India?

The most profitable imports in India are: 

  • Handicrafts and Home Decor

  • Electronics Import

  • Automobile Spare Parts Import

  • Organic Food Import

  • Beauty and Personal Care Products Export

  • Renewable Energy Equipment Import

  • Gems and Jewellery Export

  • Leather Goods Export


Get a free Import-Export data demonstrative report on desired products.

Sample Reports

Clients trusted on Eximpedia

Organization trusted our data for their research.

  • amazon
  • bain
  • bcg
  • deloitte
  • ey
  • idfc
  • indusIndbank
  • kpmg
  • tg
  • who
  • yamaha
  • wacker