India Exporter Guide 2023
The Indian market remains a bright spot, as its economic growth continues in 2023. India is one of the fastest-growing major economies in the world despite the volatile geopolitical and economic conditions,India is on an upward trajectory. Post pandemic, Indian consumer preferences toward premium products and perceived health foods remains high, despite continued high food price inflation and rupee devaluation. The Gen Z population is interested in novel foods and new ingredients. The grocery sector is the largest segment of the Indian retail market. It is also the third largest food and grocery market in the world. India’s modern retail sector, including e-retail, which is rapidly developing, presents newfound opportunities for a diverse range of U.S. food product exports. Nevertheless, India persists as a difficult market for U.S. exporters due to supply chain disruptions, high tariffs, a challenging, ever-changing regulatory environment, and competition from domestic and international suppliers.