coronavirus pandemic had hit the whole world both in terms of health and wealth. Many of the countries are facing a financial crisis due to this disaster. This pandemic has brought the grimmest image for the people worldwide, in the form of lockdown, downslide of trade, shut down of economies, loss of jobs, atrocity for minorities, and many more, which we had never addressed and experienced in the past. If a question arises whether there are opportunities for exports after the lockdown the answer for this will be “yes” There is an ample number of opportunities for export business after this lockdown.
World’s export basket plummeted to a lower record in the past few months as several countries sealed their borders to arrest the spread of the coronavirus pandemic but now as the world got released from this lockdown, we can see a plunge in the export trade. The sharply weaker performance which was recorded previously will be recovered now. Already, the exports of all major products i.e., rice, spices, groundnut, meat, diaries, and organic products had started. The demand for some products is likely to take a higher plunge when compared with the other after this lockdown. Food and medical products are some examples which are having higher demand now and are likely to continue the same in the future. So, if any business invests in such products amidst the situation their export business can make greater profits. The products which are expected to have high demand are listed as follows: –
1. DISPOSABLE FACE MASKS: –
Disposable face masks are expected to have evergreen demand for nearly 2 to 3 years. And the government too allowed the exports of non-medical and non-surgical masks of all types, including, cotton, silk, wool, gas masks, and knitted ones but the government posed prohibition on all other types of masks such as N-95 and surgical masks as they are considered as fomites.
2. HAND SANITIZERS AND DISINFECTANTS: –
In the present context, these will play an ineluctable role in safeguarding us from morbidity. We can observe the demand for hand sanitizers and room disinfectants touching the roof these days.
3. MEDICAL CLOTHING: –
Medical clothing such as unisex-doctor coats, unisex-scrub suits, hospital staff uniforms, patient uniforms, and other medical clothing are of high demand and are speculated to maintain the same in the coming 2 to 3 years.
4. PERSONAL PROTECTIVE EQUIPMENT: –
Personal protective equipment like transparent face covers, gas masks, disposable shoe covers was freely exportable amidst this pandemic. These are declared as essential commodities for the next 100 days by the government of India and are regulated for more production amidst the pandemic.
5. CHEMICALS: –
Chemicals are the raw materials for some kind of hand sanitizers and disinfectants. As we know that there are the only 2 giants in the chemical industry i.e., China and India. In this scenario, where all other countries are going to abandon Chinese products the demand for chemicals in India is speculated to take a hike in their sales.
6. PET BOTTLES:-
The need for pet bottles is growing as per the current scenario because people were using these pet bottles as use and throw ones as they have a high possibility of carrying particles. And these pet bottles were essential for the packaging of raw materials as well.
7. FOOD SUPPLIES:-
Due to this pandemic and lockdown, many countries in the world are affected by hunger and food crisis. Despite the regular demand for these food supplies it is expected to increase by twice as the production in most of the countries was subdued.
8. FMCG PRODUCTS:-
Apart from food supplies and essentials, Indian companies have succeeded in building a strong export business in the FMCG industry like hair oils, hair creams, toothpaste, creams, shampoos, deodorants, and OTC products. Subsequently, after the lockdown also these products’ necessity and demand will remain the same.
9. MEAT & BREAD:-
There will be higher Demand for meat after this situation Because bread and meat are considered as the staple food for many western countries. And to fight with this fatal pandemic people need to consume healthy food which reflects in the increasing demand for meat.
10.FRUITS AND VEGETABLES:-
India’s diverse climate ensures the availability of all varieties of fresh fruits and vegetables and also ranks second in terms of production in the world after China. Now that China’s agriculture and horticulture are severely affected India will be the best option for farm-fresh fruits and veggies trade.
11.READY TO EAT FOOD ITEMS:-
India is a leader in shipping food & staple items for the globe since 1970. As the deadly hunger is perfervid in many countries due to the unemployment caused by lockdown, the supply of ready to eat beverages and canned food items will help to save their lives on one hand and increase our revenue on the other hand.
12. PHARMACEUTICAL PRODUCTS:-
Pharmaceutical products export from India may witness growth due to this lockdown and prevailing pandemic conditions. Apart from the tailor-made restrictions on some of the pharma products like paracetamol and hydro chloroquine, other drugs can be exported as per the regulations of the government.
13. ELECTRONIC AND ELECTRICAL DEVICES:-
The staggered manufacturing operations all over the world had thrown the electronic and electric sectors aside. But after this lockdown, it is speculated to see a hike in production as well as consumption of these devices. China is the largest producer of these devices but in the contemporary state, no country will come forward to continue their trading deeds with china.
Around 50 minerals were essential for running an industrial sector in a full- fledged manner. Iron ore, titanium, manganese, bauxite, granite, cobalt, and graphite export demand will touch their roofs shortly as the industries were expecting to start their manufacturing operations.
India is a net exporter in the field of fertilizers. As the government relaxed norms for exports of fertilizers, including urea, potassic and phosphatic we can expect a bright growth in this trade. As the exports are subdued during the past few months worldwide, we can expect a higher demand for the above products. So, the business exports were suggested to export these kinds of things to reap faster and an ample amount of profits. Before the pandemic and lockdown, nearly 5000 types of products and services are exported per day.
Let’s give a plunge to the world’s export basket that plummeted to a lower record in the past few months. Stay tuned with global Exim to know those opportunities.