It already helps if you have a structured approach for your procurement and to keep your options open. Working with a local consultant or agency may help to identify more potential suppliers and to get the products that you just bought accross the border to their destination.
Our local consultant helps you find relevant suppliers, approach them on your behalf and ensure you get the right proposals and deliveries.
India, located in South Asia, exports a diverse range of products that showcase its industrial capabilities and rich cultural heritage. The country is known for exporting information technology (IT) services, including software development, IT consulting, and business process outsourcing (BPO), which are critical to its services sector and global presence in technology.
Wages in India vary widely across different industries and regions. Generally, wages are lower compared to many developed countries, which has fueled the growth of industries like IT services, pharmaceuticals, and textiles. The cost of living in cities like Mumbai, Delhi, and Bangalore can vary, impacting disposable income levels.
India is also a major exporter of pharmaceutical products, including generic medicines and vaccines, which are essential for global healthcare markets. The country has a strong presence in the automotive sector, exporting vehicles, components, and accessories. Additionally, India exports agricultural products such as rice, spices, and tea, reflecting its diverse agro-climatic zones and farming practices.
In addition to its export strengths, India offers attractive options for outsourcing and investment in sectors like IT services, pharmaceutical manufacturing, and automotive engineering. The country’s large and skilled workforce, competitive operational costs, and supportive government policies have made it a preferred destination for global businesses.
The best preparation for doing business in any country is visiting it. This way you can experience the culture, check the shops and build your network.
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If you take your sourcing step by step, then it can’t go wrong.
Step 1
Try to identify in total 6 to 10 possible suppliers and check their websites. Approach them with a general request to see whether they have the products or services you need.
Step 2
Submit your requirements to a group of three to five selected suppliers and ensure you get the right comparable quotations to make a choice. Negotiate with one or two of them to get the best result.
Step 3
Now start collaborating, making sure you have an efficient ordering process and limited risks where it comes to quality control and shipping the products.
If you purchase tangible products, you have to ship them out of the country. Depending on the country where you want these goods, this may have implications.
First of all you may have to pay import duties or settle VAT. There are certain thresholds for both of these charges, e.g. while importing in the EU you don’t have to pay import duties on any shipment worth less than € 150.
There may also be non-financial barriers, like certifications or approvals to be obtained. Especially for food, cosmetics or medicine this may be the case. Check this in advance, even before you invest in your marketing.
Getting your products imported and delivered in a specific country can be a challenge. I have good experience with Tecex, who can act as your importer of record and even physical distributor. If you leave your details, they will contact you.
In developing or more developed countries also labour costs are getting higher, so there is no real bargain any more. On the other hand, the more developed a country is, the better the certainty for deliveries and the more focus there is on quality.
