India: Looking Beyond Outsourced Labor

India: Looking Beyond Outsourced Labor

In recent years, people are likely to associate India as a growing center for outsourced labor. When you need to contact support for your computer, credit card account or other product, you are likely patched through to a call center in India. It is not unusual for Western companies to employ cheaper labor overseas, but it also wouldn’t be fair to dismiss India as a nation that relies solely on supporting global companies in this manner. With a gross domestic product estimated at $1.5 trillion, India ranks among the top ten global economies and enjoys healthy product trade relationships throughout Asia.

Historically, people may identify India as a third-world nation. Often the media presents images of the populous lower class, though in recent years India has emerged as one of the fastest-growing economies in the world – it stands as part of the BRICS groups of rising nations in global trade, working to remain strong despite recent financial problems and natural disasters that threatened agricultural production.

Major Exports of India

India counts among its top trading partners the United Arab Emirates, Saudi Arabia, Germany, China, and the United States. The majority of exports are shipped to the US and UAE, with China a distant third. While the bulk of India’s agricultural production remains domestically distributed, the country still has much to offer for trade. Exports most in demand include:

Petroleum Products – Refining of crude oil from the Middle East and consequent exporting of products accounts for about fifteen percent of India’s total GDP.

Iron and Steel – Steel and iron production has been part of the Indian economy since the early 20th century, before their independence from Great Britain. Coupled with iron ore mining, this industry comprises a large percentage of the nation’s exports.

Vehicles – While not a …

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Important Tips to Consider for Your Import Business

Important Tips to Consider for Your Import Business

For the newest entrepreneur thinking about developing a career in shipping and distribution, importing goods from worldwide offers you the main benefit of having unique products on hand to offer to domestic retailers and drop-shippers. Whether your interest is in coping with one specific area or working with a larger region, there is a need for imported products to remain strong regardless of the economy. If you’re just starting out using your import business, there are some factors to take into consideration to be able to be successful.

Decide What It Is That You Simply Want To Import In The US To Market

The more unique better – like specific gourmet items and foodstuffs, electronics, and homewares that are not immediately accessible via domestic channels. Find a product that is within great demand but short supply and seize the opportunity to offer it.

Interact with Distributor and Manufacturers

To create your import inventory, you simply must interact with distributors and manufacturers. Working through online global trade portals is certainly one step up the correct direction, in your case can forge real-time contacts and negotiate costs and shipping whilst keeping a record of your organization. When you have settled upon the resources, costs and also other considerations, the following tasks fall easily into place:

Storage:

do you need it, and exactly how much? Research your options for warehousing – if you want one central spot for shipping or satellite warehouses around the country. Retailers: can you intend to offer nationally, regionally, or locally? Find out which stores are in all likelihood to just accept your goods. Transportation: what number of trucks do you want to carry your products or services? Is it cheaper to rent a shipping company or purchase own truck and hire workers? Employment: lastly, how many people do …

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