India The Land Of Opportunities
Almost every multinational company is focusing on India
. It is generally agreed that, India as a low cost country sourcing market is one of the most interesting but also challenging markets in the world.
There has been paradigm shift from operational purchasing to strategic supply management with a global perspective (supplier relationship management, performance measurement, global sourcing and so on.).
Sourcing is a profit guarantee for any company during booms and stagnations.
India is recognized worldwide as one of the top sourcing markets for Engineering, High tech, Automotive, Apparel, Machinery, BPO, IT, R&D, Pharma etc
Sourcing India is due to the following reasons:
Demographic factors
-Largest Democracy in the world - 1.18 billion people
-4th largest GDP (PPP) and 1th largest GDP (Nominal)
-2nd fastest growing economy (Estimate 2011-12 - 9%); India's average growth rate 7.3% over past 10 years and expected to outpace China in next 10 years
-Demographics of Youth - 50% under 25 years & 65% under 35 years
-2nd largest pool of certified professionals and highest number of qualified engineers in the workforce - every year 400,000 engineers pass out from Indian universities
Business system
-Robust Legal and Banking Infrastructure - India has a well established and independent judicial system based on the English Common Law and derives its powers from the Constitution
-English as the language of businessmen and entrepreneurs (there are 14 major and over 1000 minor languages in India)
-India is only a 3.5 hr time difference and a 7- 8 hour flight from Europe
-Import duties for many products are lower as compared to import from China
Trade Consulting business is on the rocks!!!!!!
International trade consulting is a type of business in which consultants manage the complexities of conducting overseas or international trade on behalf of their clients. This service is an offshoot of the effect of globalization.
Globalization has made it easier and necessary for companies to diversify by reaching out to new, lucrative and emerging markets in other countries.
The role of international trade consulting is to make this transition to foreign markets as seamless as possible.
When an organization decides to open a branch or subsidiary in another country, the move will be more effective if the organization uses the services offered through international trade consulting. Registration and licensing processes may also be included in the consulting.
For instance, company ABC that is based in Canada may enlist help when planning to open a branch in South Africa.
International trade consultants will help the company carry out most of the research on administrative policies, government incentives, cultural practices, competition and the spending power of the potential consumers, among other things.
Using the services offered through international trade consulting will ensure that the company will have fewer problems in terms of locating a suitable site for its manufacturing plant. The international trade consultants will not only find a location for the company, but it will also find workers and other staff, if that is part of the agreement with the company.
by: redlotus
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