Country market guide: India

India is one of the fastest-growing major economies with a diverse manufacturing base spanning textiles, pharmaceuticals, chemicals, and IT services.

Key Facts

• Currency — Indian Rupee (INR).
• Customs authority — Central Board of Indirect Taxes and Customs (CBIC).
• GST — India's Goods and Services Tax applies to imports at the point of customs clearance, in addition to basic customs duty.

Importing into India

Importers must have an Importer Exporter Code (IEC) issued by the Directorate General of Foreign Trade (DGFT). Classification follows the Indian Trade Classification based on the HS system. Many goods require Bureau of Indian Standards (BIS) certification.

Exporting from India

India offers numerous export incentive schemes including Duty Drawback, RoDTEP (Remission of Duties and Taxes on Exported Products), and Advance Authorization for duty-free import of inputs. These can significantly improve price competitiveness.

Key Sectors

Textiles and apparel, pharmaceuticals (generic drugs), gems and jewelry, chemicals, and agricultural products (spices, rice, tea) are India's top export categories.

On Faktorist, Indian suppliers can indicate their applicable export incentive scheme, which helps buyers understand the pricing structure.