After the introduction of the LPG (liberalization, privatization, globalization) policy, the Indian economy has shifted to trade internationally. Many sellers have started to export products from India and bring in the benefits of sales in the domestic territory. Exports and imports have been an important part since the 1990s, and the opportunities of leveraging the outward sale of goods and services have increased manifold by now.
India is a country with skillful ready to work youth that constitutes one-fifth of the total population. They are prepared to move out of their comfort zones of trading in the country and are looking forward to exploring foreign markets. Selling to other countries has become a crucial factor to grab success. With so many untapped opportunities abroad, there are various reasons that justify why any Indian business should start exporting.
Now, there are easier ways to export products from India. With the internet and eCommerce platforms like Amazon, every company can participate in the export sector. The big and small enterprises stand equal chances of success when they register on the Amazon global selling platform to start their export voyage. Below mentioned are some strong reasons why a company should focus on exporting its products.
1. Newer sources of revenue
An enterprise can be very successful in the domestic market. But there is always room for more, even in business. Exporting your products to foreign markets adds to your sources of revenue. You get access to a large variety of customers from different cultures, traditions, and of different mindsets. It automatically makes you vulnerable to new sources of income.
2. Avoid unproductivity
Each market is differentiated on multiple bases. The seasons, occasions, festivals, etc., all determine the need for your product for the consumer. When you sell only in one market, you make yourself unproductive for the remaining months of the year. But when you export products from India, you make sure that your business, machinery and equipment, and labor do not sit idle.
3. Establish global connections
When you create a presence in the foreign market, you build strong networks and connections abroad. Exports encourage you to develop strong trade links with partners, supply chain managers, distributors, wholesalers, retailers, customer relationship managers, consumer groups, etc. And if you sell via Amazon, you can rest assured as you will have the strongest connections.
4. Invention and Innovation
Contacting new individuals every time you export products from India helps you understand the consumer mindset across borders. You get to know their needs better, and that makes room for innovation. You can improve your product according to your new customers and solve their problems in a more simplified manner. The exposure to new methods of doing business enhances your work potential in the domestic boundary as well.
5. Better survival
The times are long gone when there was only survival of the fittest. Now, the organizations with the most competent techniques, newest models, and the products that solve consumer problems the best survive. And exporters stay in contact with a large customer base from different countries. It becomes easy for them to crack any problem and stand stronger in the long run.
6. Help government
The organizations that export products from India benefit themselves and the government. The unfavorable balance of trade, cordial relations, aid during times of calamity, bringing in foreign exchange, etc., all are the result of exports. It helps the government to perform better and build a robust national economy.
7. Technology has made it more accessible.
The internet and eCommerce platforms like Amazon have made exports easier. Also, when an enterprise moves into a new market, the speed of growth increases. The availability of newer technologies has made exports rise to a greater extent. When India exports to other countries, it opens the doors to new techniques and IT advancements. And all this contributes to the growth and development both at micro and macroeconomic levels.
It happens that even after knowing all the benefits attached to exporting products from India, you are still skeptical about taking the first step. That is a general tendency of every business owner. But only the ones who take risks reap the fruits of success. And now it has become easier than ever.
Any business owner does not have to take the pains as the early exporters did. Amazon has launched a global selling program with which you can sell in various international markets. After getting the IEC and RCMC, you have to fill in the details on Amazon, and you are all good to go.
And with the Fulfillment by Amazon program, you can even shed the burden of managing inventory and delivering to the customer. With so many facilities available, you must not hesitate to export products from India and grab the opportunity to tap the immense potential hidden in the global markets.