Agriculture in India, due to the country’s favorable landscape and climate and the cutting-edge technologies applied, is among the best in the world. As a consequence, inter interests for Indian products and services are significant and continuous. Outstanding quality corresponding to the rigorous control requirements, GMO-free agricultural production, state-of-the-art procedures and technologies enable the Nation to offer a huge range of agriculture products.
The health care industry in India belongs to the world’s elite, thanks to the country’s long-standing medical traditions, the high quality of the procedures and technologies applied and the excellence of university education. This has resulted in strong and sustained inter interest for Indian products and services.
Mechanical engineering industry plays a significant role in the economy of India. The majority of companies are active in processing metallic and plastic raw materials to ready-to-use goods. The sector is export-oriented, as more than 90% of the production of mechanical engineering enterprises is oriented towards foreign markets.
Indian textiles and apparel have a history of fine craftsmanship and global appeal. Cotton, silk and denim from India are highly popular abroad and with the upsurge in Indian design talent, Indian apparel too has found success in the fashion centres of the world.
The Indian textile and apparel industry is one of the largest in the world with an enormous raw material and manufacturing base. The present domestic textile industry is estimated at US$ 33.23 billion and unstitched garments comprise US$ 8.307 billion. The industry is a significant contributor to the economy, both in terms of its domestic share and exports. It accounts for a phenomenal 14 per cent of total industrial production; around 4.78 per cent share in the country’s total exports in 2013-14.
Cashew (Anacardium occidentale L.), a tree native of Eastern Brazil, was introduced in India by the Portuguese nearly five centuries ago. In India, cashew was first introduced in Goa, from where it spread to other parts of the country. Initially, it found use in soil binding to check erosion. Commercial cultivation began in the early 1960s and, over the years, cashew became a crop with high economic value and attained the status of an export-oriented commodity, earning considerable foreign exchange for the country.
Among the most diversified industrial sectors, basic chemicals cover an array of more than 70,000 commercial products. India’s chemical industry is the second largest in the world and it has diverse advantages that include sizeable manufacturing base, large refining capacity, strategic location of being close to consuming Asian markets, basic chemistry skills and engineering and process skills.
Indian tea is among the finest in the world owing to strong geographical indications, heavy investments in tea processing units, continuous innovation, augmented product mix and strategic market expansion. The main tea-growing regions are in Northeast India (including Assam) and in north Bengal (Darjeeling district and the Dooars region). Tea is also grown on a large scale in the Nilgiris in south India. India is one of the world’s largest consumers of tea, with about three-fourths of the country’s total produce consumed locally.
In India, coffee is grown in regions that receive 2,500–4,000mm rainfall across more than 100 days, followed by a continuous dry period of a similar duration. Coffee growing areas in the country have diverse climatic conditions, which are suitable for the cultivation of different varieties of coffee.
Cotton plays an important role in the Indian economy as the country’s textile industry is predominantly cotton based. India is one of the largest producers as well as exporters of cotton yarn. The Indian textile industry contributes around 5 per cent to country’s gross domestic product (GDP), 14 per cent to industrial production and 11 per cent to total exports earnings. The industry is also the second-largest employer in the country after agriculture, providing employment to over 51 million people directly and 68 million people indirectly, including unskilled women. The textile industry is also expected to reach US$ 223 billion by the year 2021.
The states of Gujarat, Maharashtra, Telangana, Andhra Pradesh, Karnataka, Madhya Pradesh, Haryana, Rajasthan, and Punjab are the major cotton producers in India.
The IT & electronics industry is one of the fastest-growing industries in India, both in terms of production and exports. In fact, software development and IT-enabled services (ITeS) have made India’s brand equity a force to reckon with. The Indian electronics products demand is expected to grow at a Compound Annual Growth Rate (CAGR) of 41 per cent during 2017-20 to touch US$ 400 billion by 2020.
The Indian IT-BPM industry is expected to touch US$350 billion mark by 2025 from US$153 billion.
According to Nasscom, exports in the IT-BPM sector is expected to grow at 7-8 per cent (excluding exchange rate fluctuations). The domestic market is expected to grow at rate of 10-11 per cent and likely to add 130,000-150,000 jobs in FY2018
Along with the artistry of weavers, the Indian handloom industry demonstrates the richness and diversity of Indian culture. With over 4.3 million people directly and indirectly involved in the production, the handloom industry is the second-largest employment provider for the rural population in India after agriculture. Indian handloom products are known for their unique designs and finesse. The trend is to mix old designs with new techniques and create original products.
The industry has strong infrastructure, with about 2.4 million looms of varied designs and construction, indicating significant production capacity.
The Indian tourism and hospitality industry has emerged as one of the key drivers of growth among the services sector in India. Tourism in India has significant potential considering the rich cultural and historical heritage, variety in ecology, terrains and places of natural beauty spread across the country. Tourism is also a potentially large employment generator besides being a significant source of foreign exchange for the country. During January-July 2018 FEEs from tourism increased 12.1 per cent year-on-year to US$ 17.09 billion.
Leather is one of the most widely traded commodities globally. The growth in demand for leather is driven by the fashion industry, especially footwear. Apart from this, furniture and interior design industries, as well as the automotive industry also demand leather. The leather industry has a place of prominence in the Indian economy due to substantial export earnings and growth.
The Indian leather industry accounts for around 12.93 per cent of the world’s leather production of hides/skins.
India is the largest provider of generic drugs globally. Indian pharmaceutical sector industry supplies over 50 per cent of global demand for various vaccines, 40 per cent of generic demand in the US and 25 per cent of all medicine in UK.
India enjoys an important position in the global pharmaceuticals sector. The country also has a large pool of scientists and engineers who have the potential to steer the industry ahead to an even higher level. Presently over 80 per cent of the antiretroviral drugs used globally to combat AIDS (Acquired Immune Deficiency Syndrome) are supplied by Indian pharmaceutical firms.
India, known as the home of spices, boasts a long history of Trade with the ancient civilisations of Rome and China. Today, Indian spices are the most sought-after globally, given their exquisite aroma, texture, taste and medicinal value. India has the largest domestic market for spices in the world. Traditionally, spices in India have been grown in small land holdings, with organic farming gaining prominence in recent times. India is the world’s largest producer, consumer and exporter of spices; the country produces about 75 of the 109 varieties listed by the International Organization for Standardization (ISO) and accounts for half of the global Trade in spices.
Indian tobacco, introduced by the Portuguese in the 17th century, is appreciated worldwide for its rich, full-bodied flavour and smoothness. It is now an increasingly well-known as well as respected commodity in global tobacco markets and has found its way into cigarettes manufactured in several countries. India has an impressive and progressive profile in the global tobacco industry and it is an important commercial crop grown here. India is the second-largest tobacco producer and exporter in the world.
India’s wool and woollen textile industry is the seventh-largest in the world. India’s wool and woollen industry can broadly be divided into 10 major product categories: worsted yarn, woollen yarn, wool tops, fabric, shoddy yarn, shoddy fabrics, blankets, knitwear, hand-made carpets and machine-made carpets.