Steps Taken by the Indian Government for the Promotion of Export
Indian export sector has boomed up to a great extent in last few decades that in turn make a good impact on the nations economy. Exporters from India are rising throughout the world, the factors behind this success are better approach, liberal export
May 23, 2014 (Newswire.com) - The Indian stock market or SENSEX has raised to record high point of 23551 index points in May 2014, that allows small businesses to offer new business opportunities in the market. Indian export sector has boomed up to a great extent in last few decades that in turn make a good impact on the nations economy. Exporters from India are rising throughout the world, the factors behind this success are better approach, liberal export policies, use of technology, internet, and enhanced manufacturing methods. Export in India is reported by the Ministry of Commerce and Industry, which states that, the value of export stands at 25634.08 USD Million in April 2014, which is creating new opportunities for the Indian exporters. As far as, the export value is concerned India's main export goods are engineering goods which accounts for about 19% of total exports. Apart from this, jewelry export margin is 15%, chemicals at 13%, agriculture products stands at 9%, and textiles at 9%.
Talking about the potential of Indian export; it accounts for less than 2% of world export, which is far less than the China 12% export value. From the market perspective, it is important that India should move faster as far as the exports of quality goods are concerned. In short, Indian Government should have to improve manufacturing standards to create a better niche for themselves in the foreign markets. The B2B portal here can work as a lead-generating tool for both small and large Indian exporters that helps to expand business domain for tremendous opportunities. Various b2b websites working in this domain that provides the database of Indian exporters that help to identify top exporters from India. It creates alertness among the business community all over the globe that result in the increased number of orders and customer queries. In order to create global standards for the Indian export, the involvement of young Indian entrepreneurs is necessary to achieve the apex of success in export industry.
For the success of Indian export, the Ministry of Commerce and Industry is paving new ways for the exporters in the global markets through collaborative agreements and joint ventures with many countries. These foreign investments are generally guided by government-to-government cooperation endeavors. India's main export partners are China, United Arab Emirates, Singapore, Netherlands, and Hong Kong. It is expected that foreign trade will bring ample of growth opportunities to the Indian market that will enhance the sector's productivity levels and branding, apart from creating more employment opportunities. Organizations responsible for export development in India provide support and assistance to small business countrywide. At present, India offers attractive trade opportunities to the thousands of exporters from all across the globe. As per the Union Cabinet Secretary of India, If we talk about the position of Indian export among all the Asian countries India's export performance is much better than the other countries.
Categories: Small Business