Tapping into the global market is nearly every entrepreneur’s dream, and not all businesses need heavy investment to start exporting products. Here are five small export business ideas you can start with capital as low as Rs 50,000.
“The Indian diaspora is one of the most vibrant and dynamic, ” the United Nation mentioned in one of its reports, stating that in 2020, around 18 million Indians lived down from their country.
Lately, Commerce Minister Piyush Goyal said India's exports in December 2021 surged 37 percent on a yearly base to$37.29 billion the highest- ever monthly figure — and the country’s merchandise exports would cross$ 400 billion this financial.
However, there seem to be immense chances in the global market emerging from India, If we suppose this data. To count on this growth and capitalize on business chances, SMB Story lists five small export business ideas you can start with an investment of as low as Rs,50,000.
Imitation Jewellery
Indian jewelry has a wide global appeal, and the industry has immense potential. The beauty of ethical jewelry lures every Indian, especially when they're away from their country. In fact, foreign citizens fond of jewelry never miss a chance to flaunt their Indian ornaments.
Small businesses for jewelry export are easy to set up. You can either outsource the latest collection from domestic manufacturers or get it manufactured on contract.
Moreover, you can conclude to deal either directly with customers through a Direct- to- Consumer (D2C) website or by listing on marketplaces that accept foreign orders.
According to TrendEconomy, as of 2020, the top export destinations for Indian imitation jewelry include the US, with a share of 22 percent ($ 31 million), the UAE, with a share of14.3 percent ($ 20 million), and the UK, with a share of 8.39 percent ($11.8 million), among others.
Pickles
According to various media reports, India has emerged as the pickle king of the world. The country exports pickles to approx around 54 countries — revealing that the market for pickles is popular beyond Indian boundaries
Still, venturing into the pickles exporting business is a great step, If you're thinking of building a business with global appeal.
You can start a pickles business from home with a minimal investment between Rs 30,000 and Rs 40,000. It can be outsourced to other small pickle-making businesses or women's Self Help Groups (SHGs).
Papad
From Amritsari to Bikaneri, India boasts of a plethora of papad varieties that appeal to different customers abroad. You can begin a papad business with a minimal investment of Rs 20,000.
In accordance with a report, Indian papad is exported to over 121 countries. In 2020- 21, India exported papad worth $34.1 million.
One can start a papad business from home since it requires a small setup. You can either sell handcrafted papads or deploy hired machinery in the initial phase of the business.
Incense sticks
At present, India’s agarbatti ( incense sticks) market is growing by leaps and bounds because of advanced domestic and global demand. India exports incense sticks to over 150 countries on the reverse of the rising fashionability of aromatherapy and meditation in other countries.
A small-scale agarbatti manufacturing business can be started with an investment as low as Rs 50,000. Like the papad business, incense stick manufacturing can be outsourced to women SHGs.
Conclusion
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