Exports play a major role in the economic landscape of any country. The rate of economic growth, distribution of wealth, balance of payments, employment - all these aspects are influenced by the exports of a country. The good news is that Indian Exporters are making their presence felt on the international trade platform. With the advent of technology and globalization came the new generation of b2b Exporters in India; who have contributed in leaps and bounds to the economic growth of the nation. Today, any Exporter has all the necessary tools to leave his/her mark on the global trade arena.
What factors led to remarkable growth of Indian Exporters?
There are numerous factors responsible for the growth of Indian Exporters in the global arena. Some of them are described below:
Liberal policies of government
Government opened the doors for global trade with its lenient trade policies. In order to augment the influx of foreign currency to the country, government bodies are creating new trade opportunities in the form of policies for the Exporters. Several export boosting measures are being announced by the government like focused market scheme and focused product scheme.
Improved economic conditions in the key markets
The conditions in key markets like UK, Europe and USA have improved. The consumer demand from these markets contributes to more than 30% of the India's overall exports. Revival of these vital markets has tremendously helped in improving the exports from the country.
Enhanced growth of small and medium sized enterprises
The growth of the SME sector is very vital for the economy of India. In the recent years, the SME Sector has witnessed rampant growth and this has enabled the Exporters to extend their global reach. The fact is that the full potential of the SME sector has not been utilized by our country.
The boon of online b2b portals
With the advent of technology, numerous b2b online portals have sprung up on the internet. These portals provide a unique platform for the enterprises to reach out to global audiences with the help of few clicks. Fast payments and quick business transactions are some of the benefits of these portals. Indeed Indian Exporters are all set to conquer the world of foreign trade!
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