If you’re a first-time exporter looking to get into the global market for your Export Product, finding the right export buyers will be one of the most difficult challenges. It doesn’t matter if you’re a well-known brand in your home country; selling abroad is a big challenge. There are 195 nations to choose from as export buyers, but dealing with each is a completely different experience. Specific countries with whom your country has a multilateral or bilateral trade agreement make it easier to trade. These agreements reduce or remove trade barriers between countries. In addition, trade agreements promote mutual concessions and provide preferential treatment for exporters from partner nations.
India has 53 concluded or in-progress agreements with countries or groups of countries. These agreements give us access to many countries to continue to do business. In this blog post, we have discussed how to find buyers for export.
If you find a buyer online, products for export are essential in choosing the products. Choose products for export based on the demand for your export product. The product should fulfill consumers’ requirements and needs.
In 2017 The United States was India’s top customer and accounted for 45-50% of our exports of gold and silver and stones, pharmaceuticals, heavy machinery, textiles, and fish. So, in other words, if you’re a fish exporter, the United States (US$1.7 billion in 2017) might be a profitable market.
When considering your options, it is essential to consider future market performance. Consider a country that explores a large market for your export product. Has the market had any recent growth? Consider another country with a market that is smaller but developing exponentially.
Tradition would suggest the first market, but in reality, the latter’s record is better and holds the greater possibility for the future. Therefore, the second market would be a better option for a buyer for exports.
When you know that local producers cannot fulfill demand or there is no manufacturing in the country, you can be sure of continual demand for your goods in that market. Demand certainty is a must for your export business’s growth and sustainability because it ensures that your exports will be accepted in the future.
The accessibility of a country to international trade is a considerable problem for buyer export, especially considering the current international political atmosphere of protectionism. You should also consider the difficulties you’ll have to face to break into a specific market. For example, tariffs and trade restrictions, licensing requirements, government rules, high-quality parameters, logistical challenges, and even unexpected restrictions. That’s where bilateral or multilateral agreements come into play, where countries can agree to make trade more convenient through measures such as mutual infrastructural development and regulatory relaxations.
Existing companies in the market will most likely be providing the same product, or emergent suppliers will be developing the export product internally. A market overload can come from too much competition, reducing your sales and profitability. Furthermore, you lose the first-mover advantage. It’s essential to know about your competitors’ market share and global presence to understand exactly what you’re up against.
We hope this article has helped you find international buyers for Indian products. Delivering to many countries as a beginner may be difficult. Start with a few markets and work your way up to growth strategy from there. Get in touch with our team of import export experts at Impexperts for any queries you may have!
At the international level, the market selection is essential. The market selection is based on a complete study of various markets regarding some good criteria.
A buying agent who arranges financial transactions of global buyers. The buying agency promotes and purchases a specific type of goods within a specific area, a single country, or a group of countries.
Indian government sources, such as the commerce buying agencies in India and the industry ministry, are excellent and reliable places to find Indian importers and exporters with the required information.
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