As the Indian economy has suffered due to the pandemic, the first paperless budget has made its way as an economic vaccine, aiding the nation’s economy. While presenting the union budget, Finance Minister Nirmala Sitharaman has introduced many policies and guidelines, helping the digital business to scale their operations.
While introducing schemes such as PM Atmanirbhar Swasth Bharat Yojana, Mission Poshan 2.0, Urban Jal Jeevan Mission, etc., there have been other initiatives taken by the government to help specific sectors.
“A Limit of turnover for the tax audit has been increased to Rs. 10 crore from Rs. 5 crore for entities carrying out 95% transactions digitally”
If you are starting to start your own e-commerce business or thinking to expand your product line, this is indeed the best time to start. With the union budget rolling out, you can probably reckon upon starting up with the products mentioned in our list, inducing more profits.
To help you understand the best e-commerce products you can surely invest in 2021, we have curated a list! Let’s dive deeper into the 5 best products profitable to sell this year.
5 Most Worthy Products to Sell in 2021!
1. Steel Utensils
If you already have a business manufacturing steel utensils or are planning to do so, here’s a piece of good news for you. Custom duty on stainless steel has been reduced to 7.5%, making it cheaper to import in India. Not to mention after the pandemic, people are becoming health conscious and switching over to more traditional ways. Using stainless steel in cooking is one of them. It’s both beneficial for your health and the environment – given the fact it can be melted again.
How to sell
Apart from your own brandstore, you can think of selling on various marketplaces including Amazon and Flipkart. Also, mention the benefits and the quality of your utensils in the marketing copy to entice the attention of visitors.
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“The union budget 2021 highlights Rs. 1,500 crore for the proposed scheme to promote digital modes of payment.”
2. Nylon Apparels
It’s the best chance to showcase your creativity and invest in Nylon yarns to manufacture designer apparel. With a reduction of the Basic Customs Duty (BCD) on caprolactam, nylon chips, and nylon fiber & yarn to 5%, businesses can improve their production in fashion clothing. With its wrinkle-free properties, nylon is one of the best synthetic fabrics people love to buy. Be it formal wear for office or sportswear for the gym, the fabric is highly versatile.
How to sell
Influencer marketing campaigns work the best for marketing fashion and lifestyle products. If you are low on budget, you can look for micro-influencers with more niche market audiences.
3. Cotton and Silk Yarns
Union budget 2021 states to increase the Customs duty on cotton from nil to 10% and on raw silk and silk yarn from 10% to 15%. Upsurging the demand for Indian manufacturers of silk and cotton can be beneficial for both the economy and the local businesses. Starting your e-commerce business in cotton and silk handicrafts could turn out to be beneficial in 2021.
How to sell
The best way to sell raw materials over the internet is via social media and google marketing campaigns. Start with persuasive copy, reflecting the sustainable techniques you have used to produce the yarns.
4. Food and FMCG
In the union budget 2021, the government has come up with various schemes and investment plans to boost growth momentum for India’s fast-moving consumer goods. Investments in rural infrastructure and the extension of farm credit will trigger the consumption boost for food items. Products such as vegetable oil, millets & grains, wheat flour, etc are beneficial for businesses to invest in.
“Operation Green Scheme’ to be extended to 22 perishable products, to boost value addition in agriculture and allied products!”
How to sell
One of the best ways to sell FMCG and food products online is via online stores. You can establish your own brandstore, showcasing your offerings.To get the best out of it, start your brandstore from scratch with Kartify – our brandstore tech made in India. Request your free DEMO now!
5. Gold and Silver Jewelry
To make Indian jewelry more competitive in the global markets, the Indian government has reduced the import duty on gold and silver to 7.5% from 12.5%. This move not only gave relief to the consumers but also helped the businesses, broadening the prospects of India’s rich heritage to global markets. From more intricate designs to ethnic jewelry designs, the deduction in the duty will help the jewelry manufacturers.
How to sell
To sell jewelry online, social media platforms such as Instagram and Snapchat work the best. You can start with Instagram sponsored posts and stories, showcasing the jewelry design especially amid the festive and wedding season, grabbing more attention.
The union budget 2021 highlights reforms and guidelines to increase Indian production. So this is your time to launch your own brandstore. Also, we might have missed some of the other product category recommendations, but all the products on the list are carefully chosen and thoughtfully analyzed.