Online marketplaces have been an absolute godsend for ex-porters in India and abroad. The new-age exporter no longer has to travel long hours in a cramped plane to meet prospective buyers and showcase his products. Nor does he have to spend precious dollars buying exhibition space in expensive trade fairs and carrying tonnes of samples and marketing collaterals, in the hope that business will materialise from the few genuinely interested buyers who turn up at the booth.
Online marketplaces have created the perfect virtual space where exporters can showcase their products and communicate with prospective buyers at a fraction of the cost that exporters would spend when the Internet had not become so all pervasive. And today there is no exporter worth his salt, and we lay a strong emphasis on the ‘no’ here, who does not have an online presence in one or more online marketplaces.
Exporters, big and small, have made a bee-line for online marketplaces, both business-to-business (B2B) and business-to-consumer (B2C). Take for instance, the big Indian brand Amul making its debut on the Amazon Global Selling Platform in November 2016. With the Global Selling programme, Amul and many other Indian exporters can now sell their products in nine countries, which include US, UK, Japan,France and Canada – it’s a total consumer base of 300 million, which includes a huge Indian diaspora that is nostalgic for all that is Indian. At present, the programme lists 25 million products from 18,000 sellers in India. These exporters include famous retail brands such as Fab India, Biba, Himalaya, Organic India and Liberty Shoes among others. And this is just the tip of the iceberg as this is just one of many B2C platforms.
The real opportunity for exporters however lie in the B2B international marketplaces. Chinese e-commerce giant Alibaba, as we all know, has played a pivotal role in promoting exports from Chinese SMEs, with great success. And the B2B marketplaces of today have evolved to not only listing and showcasing of products but to full-service platforms. Today, these B2B platforms provide services from credit rating and due diligence of buyers to facilitating export inspection and export credit financing to receivables recovery services, all under the same umbrella. There really is no conceivable reason why an exporter will not avail the services of an international marketplace.
This story is from the July 2017 edition of The Dollar Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 2017 edition of The Dollar Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
'Lowered Incentives Have Hurt Exports'
The decentralised powerloom sector is the backbone of India’s textile business. It not only contributes about 60% to India’s fabrics export, but also provides employment to over seven million people. The Dollar Business caught up with Purushottam K. Vanga, Chairman of Powerloom Development and Export Promotion Council (PDEXCIL), to understand what the Council is doing to boost exports from the sector.
“it's Time to Explore Untapped Markets”
Charan Reddy Arutla (CRA): I have always been passionate about apparel and shopping – usually, I spend a lot of time and money on shopping. In 2011, an enthusiastic young man combined his passion for fashion with business and started Roman Island. Six years later, this Rs.100 crore company is making its presence felt both in the domestic and international markets. CEO and Chairman Charan Reddy Arutla shares the company’s growth, challenges and plans with The Dollar Business.
Fta Will Create A Win-win Situation
Edgar Vasquez, Vice Minister of Foreign Trade of Peru, was in India recently to push for a comprehensive free trade agreement (FTA) covering goods, services and investments between the two countries. The Dollar Business caught up with him to understand the rationale behind the proposed FTA, which is in line with the agreements the Latin American nation already has with 53 countries.
The 'Soap' Opera Has Just Begun
Indian exporters of organic soaps have been making ‘clean’ hits across overseas markets for quite some time now. As a result, exports of this product from the country has risen steadily. So, what really makes this product a popular choice amongst foreign buyers and Indian exporters (who enjoy high average margins)?
GST: Right Intent. Wrong Rules
A catalyst or deterrent for India's exports?
The Sweet Sound Of Profits
Usage of earphones and headphones in India has been increasing at a rapid clip, in tandem with mobile phone and Internet penetration. And that should be music to the ears of importers of the product as production lags demand by a huge margin.The Dollar Business dives deep into the business to understand and analyse the dynamics of this lucrative market.
Protectionism Is On The Rise Globally
Dr. Shashi Tharoor dons many hats with equal élan – a Congress leader, a Member of Parliament representing the Thiruvananthapuram constituency, the Chairman of the Parliamentary Standing Committee on External Affairs, and a much acclaimed and awarded author. In an exclusive interview with The Dollar Business, Dr. Tharoor shares his views on the changing dynamics of global trade.
A Fashionable, ‘Boot'iful Idea
When India’s exports were on a decline over the last couple of years, one product category that did not lose its shine is leather boots. On the contrary, its exports from India surpassed that of traditional leaders like Germany and Netherlands. The Dollar Business analyses what makes this product a bestseller overseas.
What's In Store For Global Trade In 2017?
The year gone by was eventful, both for the world and India. While the much-awaited Goods and Services Tax (GST) was passed by the Indian Parliament, United Kingdom voted to exit the European Union. While Donald Trump took the world by surprise, Indian Prime Minister Narendra Modi's sudden announcement of demonetisation left the whole country in a financial shock. The global commodity market too woke up from a slumber, though there is more recovery that can be made. While these and many other such events shook the world in 2016, their impact on global trade and policy environments will only likely be seen in 2017. Will 2017 be a year of change for the better? The Dollar Business takes a look at key elements and occurrences that could change world trade in 2017.
Demonetisation & Its (Side) Effects
While a large segment of the Indian population supports the post-Diwali demonetisation drive, that its impact on India's economy will be negative in the short term is a given. The Dollar Business analyses how the move could well prove a headwind for India's manufacturing, foreign trade and economic growth.
