Indian Government Planning for the Potential Growth in Export Sector
According to the data, the share of India's manufacturing sector stands at 13.5 per cent of GDP. Now, Indian Government is targeting towards to double its exports by 2013-24 to USD 500 Billion.
April 15, 2014 (Newswire.com) - The export business in India is growing at a rapid pace and have witnessed a major growth in different fields. This is an opportunity for the Indian exporters to expand their business in the international markets. India's topmost exported commodities products are polymers, chemicals, tea, paper, costumes, textiles, seafood, jewelry and many other items. India is amongst the several Asian nations that has improved its export values at a faster pace leaving behind China, Indonesia and Hong Kong. The increase in Indian export standards have opens up a number of opportunities for the SME sector. The considerable growth we have achieved is only due to the emergence of online B2B portals. These portals are proved to be useful business platform to millions of buyers and sellers to communicate with each other at a quicker pace.
According to the data, the share of India's manufacturing sector stands at 13.5 per cent of GDP. Now, Indian Government is targeting towards to double its exports by 2013-24 to USD 500 Billion. To achieve this target, Indian exporters have to diversify into newer markets and newer sectors. Being as a major player in the world trade market, India has to strengthen it's footprint in markets of Asia, African and Latin America by 2020. The merchandise exports would build up the strength of Indian economy. The small and medium enterprises are facing many difficulties to earn a reputed place in the global markets. With the help of an effective b2b portal the small businesses receive maximum exposure for their offered products and services.
Reported by the Ministry of Commerce and Industry Exports, India has increased to 26752.36 USD Million in January 2014 from 26346.06 USD Million in December 2013. Indian exporters are using B2B directories for their promotion that helps them to establish long term relations with buyers and sellers from across the globe. For a successful business the advertisements is the main strategy that is used by the enterprises to display their products and services. Indian exporters can easily access to the targeted audience through online advertisements. With the use of product catalogs, the companies can easily display their products and other details, which is beneficial for the business.
India main exports are engineering goods which is 19 percent of total export value, gems and jewelry is 15 percent, chemicals 13 percent, agricultural products 9 percent and textiles 9 percent. The Indian exporters paved the way to substantial growth and are now able to compete in the international markets. The government of India introduced several easy norms to boost the development of the export industry in India. Now, the list of prospective buyers and sellers is available on the internet. Indian exporters can easily go through these directories that in turn results into a business partnership.