India –The fast emerging hub for sourcing and exports
Survival in this highly competitive and fast paced world, companies are opting for any measure that would keep their business going at the required pace. The first step towards this is "globalisation" i.e. collaborating with traders across borders to gain maximum cost advantage.
India is fast emerging as a major hub for global sourcing for various services and products like apparels, raw materials, labor, technology etc to many countries like US and EU. There are many factors that have led to an increase in sourcing India, primarily the vast textile industry and cost of raw materials and labor. India offers cheap labor and this helps in drastically lowering the manufacturing costs. Secondly the rich heritage of India makes it a huge resource of designs and textiles, which are greatly appreciated in other countries, due to their uniqueness and magnificent colors.
The changes in the exporting India policies helped open the market and as a result there has been a great hike in sourcing India. Indian entrepreneurs were quick to cash on this opportunity and quickly made the required changes to accommodate the growing demand and to match up supply accordingly. Indian cotton is in huge demand to the extent that nearly 75% of exporting India garments is in pure cotton. It is not surprising that trading giants like Gap and M&S are opting for sourcing India apparels. Over the years exporting India data shows an increase in exports by 34% to the US and 30% to the EU and the numbers are only growing.
The Indian market has spread globally and now most investors are looking at ways of sourcing India and as a result India is fast emerging as a potent business hub. India is able to offers companies local resources which are not available in other countries, and even if they are, India offers the same at fraction of the cost. This brings down the manufacturing cost drastically for companies opting for exporting India. Secondly the supplier base available to the companies is not bound by the domestic market, and hence companies get the golden opportunity to have transactions with suppliers who are more competitive. As a result companies can focus on their core competencies and have much more capital to reinvest in the same. There are many companies here who also offer end-to-end solutions for companies looking at sourcing from India. They offer apt consultancy on what strategies to be adopted to maximize returns.
Liberalisation and change in government policies has greatly contributed to an increase in exporting India, as the new policies are very investor-friendly. It is not a surprise that nearly 225 of the Fortune 500 companies are opting for sourcing India, for gaining a competitive edge. With English being the second most common language understood in India, the language barrier too is not a hindrance here. Great infrastructure, technological advancement, cheap labor to highly educated professionals, India offers to the world what not many countries can offer.
India is fast emerging as a major hub for global sourcing for various services and products like apparels, raw materials, labor, technology etc to many countries like US and EU. There are many factors that have led to an increase in sourcing India, primarily the vast textile industry and cost of raw materials and labor. India offers cheap labor and this helps in drastically lowering the manufacturing costs. Secondly the rich heritage of India makes it a huge resource of designs and textiles, which are greatly appreciated in other countries, due to their uniqueness and magnificent colors.
The changes in the exporting India policies helped open the market and as a result there has been a great hike in sourcing India. Indian entrepreneurs were quick to cash on this opportunity and quickly made the required changes to accommodate the growing demand and to match up supply accordingly. Indian cotton is in huge demand to the extent that nearly 75% of exporting India garments is in pure cotton. It is not surprising that trading giants like Gap and M&S are opting for sourcing India apparels. Over the years exporting India data shows an increase in exports by 34% to the US and 30% to the EU and the numbers are only growing.
The Indian market has spread globally and now most investors are looking at ways of sourcing India and as a result India is fast emerging as a potent business hub. India is able to offers companies local resources which are not available in other countries, and even if they are, India offers the same at fraction of the cost. This brings down the manufacturing cost drastically for companies opting for exporting India. Secondly the supplier base available to the companies is not bound by the domestic market, and hence companies get the golden opportunity to have transactions with suppliers who are more competitive. As a result companies can focus on their core competencies and have much more capital to reinvest in the same. There are many companies here who also offer end-to-end solutions for companies looking at sourcing from India. They offer apt consultancy on what strategies to be adopted to maximize returns.
Liberalisation and change in government policies has greatly contributed to an increase in exporting India, as the new policies are very investor-friendly. It is not a surprise that nearly 225 of the Fortune 500 companies are opting for sourcing India, for gaining a competitive edge. With English being the second most common language understood in India, the language barrier too is not a hindrance here. Great infrastructure, technological advancement, cheap labor to highly educated professionals, India offers to the world what not many countries can offer.
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