A Few Tips to Consider While Sourcing from India
Covid-19 Pandemic has impacted every sphere of human life, both personal and commercial. Global trading has been facing a massive disruption right from the outbreak of the pandemic and many countries have been compelled to limit sourcing from abroad. Over the years, China has remained the largest sourcing hub in Asia and according to the experts, it will remain the same in the future. Remarkably, apart from China, some other Asian countries are also emerging as the best destinations for sourcing. In recent times, India is known for its first-rate sourcing services. What is working behind this emergence of India? What the foreign companies should consider while sourcing from India? Go through this blog to find out these answers.
Reasons behind the Emergence of India in Sourcing
Along with the disruption caused by the Coronavirus, the never-ending trade war between the US and China is also helping India to make a special place in the world of sourcing. India has expertise in delivering unique and handcrafted products, which the companies can find nowhere else across the world. The country focuses on the design and new products developed in-house. This is the Unique Selling Point or USP of the country.
Other reasons, which have made India a permanent alternative to China, are:
- Good economy
- Low-cost products
- Large and potential GDP
The United States or the US has been stressing on developing bonds with India to reduce their dependency on China. Moreover, physical travel to China has become challenging after the outbreak of the pandemic. These reasons are driving the US and other countries to India sourcing.
Tips on Sourcing from India
When it comes to sourcing from India, the companies need to choose the right supplier. Developing and nurturing long-lasting relationships will help a company. Listed below are a few ways to approach one of the best sourcing services in India.
Attend Trade Shows and Online Events
As the pandemic has shaken the event industry, some of the annual programs are again going to start. You must keep an eye on the programs that may allow you to get in touch with potential Indian suppliers.
Go through Supplier Directories
Now you can get access to a list of companies, which are sourcing products from India and other Asian countries. If you have limited information about the Indian suppliers, you should start networking to find out a supplier who can meet your requirements. Purchasing and sourcing in India is not a new concept; only more countries now have started taking a keen interest in India sourcing.
Consult Trusted Agents
Hiring a reliable sourcing agent can make your task easier and faster. Skilled agents can find suppliers who are able to meet your product requirements with ease. Even on your behalf in the country, they can manage the sourcing process and determine the quality and amount of the sourced products.
A Final Takeaway
Before stepping into the Indian sourcing market, you should remember that you need to do negotiate in the proper way to make your deal profitable. Indian market is full of small-scale suppliers having niche skills and areas of focus. It implies that sourcing products from India may seem a complex process, but you should also consider the benefits the country can offer.