INDIA EXPORT CONSULTING FOR BUSINESSES

Expanding into the Indian market presents numerous opportunities for businesses. However, to succeed, it’s crucial to understand the regulations, characteristics, and business culture unique to this nation. Smart Link Logistics offers specialized India export consulting services tailored for businesses looking to explore and penetrate this promising market. Discover more through the article below!

India’s Market Potential

Economy

India ranks among the top 5 largest economies in the world. With rapid growth, it is projected to lead economic development within the G20 group. The Indian economy is highly diversified, comprising agriculture, industry, and services, with agriculture accounting for 15%, industry 25%, and services 60% of its GDP.

Social Landscape

India is a multi-ethnic nation with a population of approximately 1.4 billion, 60% of whom are under 25. This demographic provides a vibrant and promising market.

Key Characteristics of the Indian Market

Indian consumers prefer affordable products, and the nation has a vast, rapidly developing economy with improving infrastructure. Additionally, with over 80% of the population being vegetarian, this market is highly favorable for agricultural products.

Vietnam-India Trade Relations

India is Vietnam’s 8th largest trading partner. Bilateral trade accounts for up to 80% of Vietnam’s trade with South Asia. India’s “Act East” policy also identifies ASEAN, particularly Vietnam, as a vital partner.

Potential Export Products to India

Key Vietnamese exports to India include phones and components, computers and electronic products, fruits like dragon fruit and lychee, steel, coffee, spices, and stone and construction materials—all with significant growth potential.

Vietnam and India share many strategic mutual benefits.

Considerations for Exporting Goods to India in 2024

Businesses should carefully research market demand and competition to determine appropriate strategies, while enhancing their knowledge through seminars and guidance documents. Moreover, companies must comply with BIS certification if their products fall within the mandatory list, covering items like electronics and food.

BIS Certification

The BIS (Bureau of Indian Standards) is a quality standard managed by the Indian Standards Bureau, mandatory for many products. To obtain BIS certification, companies must have representation in India and meet quality and labeling requirements.

BIS Certification Assistance

ICERT, a consulting unit with BIS expertise and an extensive network in India, can support businesses in completing the procedures quickly and efficiently.

Compliance with Import-Export Regulations

Businesses should be well-versed in India’s customs and tax regulations. Transactions should be conducted under contract and adhere to international trade principles.

Staying Updated on New Regulations

Businesses should regularly check updates from the Directorate General of Foreign Trade of India, as policies may change unexpectedly and take immediate effect, posing potential risks in transactions.

Conclusion

To succeed in the Indian market, businesses must prepare thoroughly and have a deep understanding of its culture, regulations, and unique needs. With diverse development opportunities, the Indian market requires strict compliance with standards and a strategic approach.

For companies seeking support to simplify these processes, our India export consulting service is an efficient solution, helping businesses save time and optimize their advantages when entering this high-potential market. We proudly bring over 14 years of experience in logistics and are ready to accompany you throughout your journey.

Hotline: + 84 935 766 039 to know more about our services

If you require assistance with international import and export of goods, please contact our team at Smartlink Logistics. We are available to provide you with professional guidance on our services and the necessary customs procedures.

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