As per Indian Trade Data, India is the 18th largest export economy, sending $282 billion abroad and $400 billion in imports in 2014, resulting in a $131 billion trade deficit. India is the world's second-most populous country, which means it has the world's largest labor pool. If the government is effective, and changes are implemented, the global economy can be rebuilt. For several decades, India's GDP has consistently grown at a rate of 7% each year. Oil, farming harvests, expensive stones and jewelry, and machines are among India's top trading benefits.
Because bilateral international trade takes place all over the world, the global economy is continually reaching new heights. Customs duties, excise duties, import taxes, and export taxes must all be paid by traders. Some businesses are in charge of imposing and collecting these charges and taxes. Companies provide online services such as import export data to help traders deal with the complex and safety requirements of paying these tariffs and taxes. All relevant information regarding taxes and duties can be found in the customs data available on the internet.
Real customs data has numerous advantages for those in the import and export business. Dealers can search millions of records by browsing the company's online database of import and export customs data. The following are some of the reasons why accurate and customized import and export data are essential for trade:
To reach out to potential purchasers:
If you're an exporter looking to reach out to other potential buyers in different parts of the world, custom import data from other countries can help. Let's say you're an exporter of ready-to-wear clothing to the United States who wants to grow your business at home. To do so, you'll need to approach additional possible buyers who are willing to pay a lower price for your product. Because contacting every company with a trading relationship with your country is impractical, you'll need a list of American importers of apparel from your country. Companies that provide online database services, such as India, give custom data in many countries, including the United States, so you can quickly compile a list of customers who are interested in your goods.
Study your opponent's strategies:
Importing and exporting goods is a highly competitive industry. The global market is a cutthroat battleground. To improve trade competitiveness, almost every domestic dealer wants to sell their goods on the foreign market. As a result, import and export dealers must exercise extreme caution in all of their acts. Traders must develop excellent business strategies, even at the micro-level, to ensure that they maximize their profits. You'll be able to keep track of your opponent's movement by using the export import customs data. If you import items from China, for example, China Customs data can be extremely useful.
To find a new client for a service provider:
The foreign commerce platform, in addition to importers and exporters, requires a vast number of services to function well. DEPB licensing services, EPCG licensing services, advance licensing services, import code authorization services, import code file services, export code authorization services, and exports are among the industry's service providers. code numbering, code file services, import advisory services, export advisory services Export advice services, export documentation consulting services, 100 percent EOU, export processing zones, STPI, units, automotive transportation, interstate car transport services, warehousing facilities, and air transport agents are only some of the services available.
So, wait for what? Contact Seair Exim Solutions right now. Create a strong strategy for your trading business and live one step ahead of your competitors.