India Exporter Guide 2024
India continues its rapid economic growth journey in 2024 as the fifth largest economy in the world. It is projected to surpass Japan to become the third largest economy by 2030. With the economic growth, India’s purchasing power has increased, which has impacted Indian consumer preferences. There has been a shift towards high quality foodsand products perceived as healthy. The food and grocery sector remains the largest segment of the Indian retail market. With over 15 million grocery retail outlets and approximately a million wholesalers, India’s modern retail sector and rapidly growing e-commerce sector offers massive opportunities for U.S. processed, fresh and packaged food, and beverage exports. Yet, India persistently remains a difficult market for U.S. exporters due to high tariffs, erratic regulatory requirements for imported food products, and competition from domestic and international suppliers.